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Question 27 The following information is available for Steve Corporation for the year ended 12/31/09: Net Income -- $150,750 Depreciation Expense -- $40,500 Comparative Balance Sheets 2009 2008 Cash $130,500 $87.750 Accounts Rec. 69.750 60.750 Merch. Inv. 456,750 400.500 Acc. Pay. 51.750 72,000 Inc. Taxes Payable 20,250 18,000 Additional Information on Year 2009 transactions a. Purchased equipment for $27,000 cash. b. Issued 18,000 shares of common stock for cash at $2.50 per share. c. Declared and paid $83,250 of cash dividends. Required: Prepare a complete Statement of Cash Flows; report is cash inflows and outflows from operating act indirect method