William Davis and Elizabeth Wilson are examining the following summary of cach flows for Kingbird Company for the year ended January 31, 2025. William claims that this summary shows that Kingbird had a supeto first year, with cash increasing $33,800. Elizabeth replies that it Was not a superb first year. Rather, she says, the year was an operating fallure and that $33,800 is not the actual increase in cash. The cash balance at the beginning of the year was $139,120. Using the data provided, determine the net income/(loss) for the year ended January 31, 2025, Depreciation expense was $54,570. (Enter negative amounts using either a negative sign preceding the number eg, 45 or parentheses es (45).) Net income (loss) eTextbook and Media Assistance Used - Your answer is partially correct Prepare a statement of cash flows in proper form using the indirect method. The only noncash items in the income statement are parenthesis es. (15,000). Prepare a statement of cash flows in proper form using the indirect method. The only noncashitems in the income statement are depreciation and the gain from the sale of the investment. (Show amounts that decrease cash flow with either a-sign eg. 15,000 or in parenthesis eg. (15,000). Question 3 of 4 0.81/20: Cash Flows from Ooeratine Activities $ 4