Using the indirect method, prepare a statement of cash flows for this year.

A comparative balance sheet for Lomax Company containing data for the last two years is as follows Lomax Company Comparative Balance Sheet This Year Last Year Assets Current assets Cash and cash equivalents Accounts receivable Inventory Prepaid expenses $ 100,000 $73,200 682,500 449,000 19,500 648,000 642,800 33,200 Total current assets 1,424,000 1,224,200 Property, plant, and equipment 2,515,000 1,916,000 586,100 Less accumulated depreciation Net property, plant, and equipment Long-term investments Loans to subsidiaries Total assets 649,800 1,865,200 1,329,900 217,000 84,500 $ 3,579,100 $ 2,855,600 140,900 149,000 Liabilities and Stockholders' Equity Current liabilities Accounts payable Accrued liabilities Income taxes payable $ 916,400 $ 599,000 68,100 141,200 42,400 170,700 1,129,500 765,000 808,300 487,000 Total current liabilities Bonds payable Total liabilities Stockholders' equity 1,894,500 1,295,300 Common stock Retained earnings 1,148,000 1,029,000 531,300 536,600