using the indirect method, prepare the statement of cash flows for the year ending DEC 31 2024

2 3 Cash Accounts Receivable, net Inventory Prepaid Rent Total Current Assets Equipment Accumulated Depreciation Total Assets 12/31/2024 $30,000 160,000 100,000 20.000 S310,000 $400,000 (60.000 $650,000 12/31/2023 $80,000 100.000 70,000 10,000 $260.000 $200,000 (50,000 $410,000 Accounts Payable Salaries Payable Bonds Payable Common Stock, $10 par Retained Earnings Total Liabilities & Stockholders' Equity S50,000 40,000 0 350,000 210,000 $40,000 40,000 50,000 100,000 180.000 $650,000 $410,000 Additional information: 1. The company reports net income of S100,000 and depreciation expense of $20,000 for the year ending December 31, 2024. 2. Dividends declared and paid in 2024, $70,000. 3. Equipment with a cost of $20,000 and accumulated depreciation of S10,000 was sold for $3.000. 4. New equipment was purchased for cash. 5. No common stock was retired during 2024