with the information of the statement of financial postition and statement of income as well as additional information regarding 2024, prepare statement of cash flows using indirect method ( cash payments)

The statement of income and unclassified statement of financial position for \begin{tabular}{|c|c|c|} \hline Bank loan payable-current portion & 127,000 & 60,000 \\ \hline Bank loan payable-non-current portion & 14,100 & 10,100 \\ \hline Common shares & 240,000 & 198,000 \\ \hline Retained earnings & 175,380 & 126,390 \\ \hline Total liabilities and shareholders' equity & $631,590 & $461,500 \\ \hline \end{tabular} \begin{tabular}{lr} & \multicolumn{1}{|c}{\begin{tabular}{c} Wildhorse Inc. \\ Statement of Income \\ Year Ended December 31, 2024 \end{tabular}} \\ \hline Sales & $318,000 \\ Cost of goods sold & 98,700 \\ Gross profit & 219,300 \\ Operating expenses & 81,600 \\ \hline Income from operations & 137,700 \end{tabular} Other income and expenses \begin{tabular}{lrrr} Interest expense & $12,900 & \\ Realized loss on sale of long-term investments & 8,200 & & 21,100 \\ Income before income tax & & & 116,600 \\ Income tax expense & & & 27,940 \end{tabular} Additional information regarding 2024: 1. Long-term investments were sold for $5,100, resulting in a realized loss of $8,200. 2. New equipment costing $140,000 was purchased for $69,000 cash and a $71,000 bank loan payable. 3. Equipment costing $55,700 was sold for $15,600, resulting in a gain of $8,300. 4. Accounts payable relate to merchandise suppliers; property tax payable relates to operating expenses. 5. A dividend was paid during the year. 6. Operating expenses include $58,600 of depreciation expense and an $8,300 gain on disposal of equipment. 7. The company issued common shares for $59,000 cash and bought back and retired some other common shares at the cost they were originally issued at. (a) Prepare the statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a-sign e.g. 15,000 or in parenthesis e.g. (15,000).) (a) Prepare the statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a-sign e.s. 15,000 or in parenthesis e.g. (15,000)} lote X to the Statement of Cash Flows: Equipment costing \$ was purchased by paying $69,000 cash and suing a bank loan payable for $71,000. The statement of income and unclassified statement of financial position for Wildhorse Inc. follow: \begin{tabular}{|c|c|c|} \hline Liabilities and Shareholders' Equity & & \\ \hline Accounts payable & $63,200 & $48,300 \\ \hline Property tax payable & 11,000 & 18,000 \\ \hline Refund liability & 910 & 710 \\ \hline Bank loan payable-current portion & 127,000 & 60,000 \\ \hline Bank loan payable-non-current portion & 14,100 & 10,100 \\ \hline Common shares & 240,000 & 198,000 \\ \hline Retained earnings & 175,380 & 126,390 \\ \hline Total liabilities and shareholders' equity & $631,590 & $461,500 \\ \hline \end{tabular} Wildhorse Inc. Statement of Income Year Ended December 31, 2024 Sales $318,000 Cost of goods sold \begin{tabular}{r} 98,700 \\ \hline 219,300 \\ 81,600 \\ \hline 137,700 \end{tabular} Income from operations Other income and expenses Interest expense $12,900 Realized loss on sale of long-term investments Income before income tax Income tax expense Net income Additional information regarding 2024: 1. Long-term investments were sold for $5,100, resulting in a realized loss of $8,200. 2. New equipment costing $140,000 was purchased for $69,000 cash and a $71,000 bank loan payable. 3. Equipment costing $55,700 was sold for $15,600, resulting in a gain of $8,300. 4. Accounts payable relate to merchandise suppliers; property tax payable relates to operating expenses. 5. A dividend was paid during the year. 6. Operating expenses include $58,600 of depreciation expense and an $8,300 gain on disposal of equipment. 7. The company issued common shares for $59,000 cash and bought back and retired some other common shares at the cost they were originally issued at. (a) Prepare the statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.8. (15,000).)