Year 2 Year 1 Assets: Cash Accounts receivable Merchandise inventory Long-term investments Equipment Accumulated depreciation Total assets Liabilities: Accounts payable Income taxes payable Bonds payable Total liabilities $ 24,640 32,180 73,125 55,900 175,500 (33,550) $ 327,795 $ 65,000 10,725 48,750 $ 23,040 29,400 61,710 56,400 145,500 (31,200) $ 284,850 40,380 10,200 66,000 $ 124,475 $ 116,580 Equity: Common stock Paid-in capital in excess of par Retained earnings Total equity Total liabilities and equity 117,000 13,000 73,320 96,000 9,000 63,270 $ 168,270 $ 203,320 $ 327,795 $ 284,850 Aarons Corporation Income Statement For Year Ended December 31, Year 2 Sales Cost of goods sold Depreciation expense Other operating expenses Interest expense Other gains (losses): Loss on sale of equipment Income before taxes Income taxes expense Net income Additional information: $ 240,000 $ 80,900 29,400 48,000 2,000 (160,300) (8,400) 71,300 27,650 $ 43,650 (1) There was no gain or loss on the sales of the long-term investments, nor on the bonds retired. (2) Old equipment with an original cost of $37,550 was sold for $2,100 cash. (3) New equipment was purchased for $67,550 cash. (4) Cash dividends of $33,600 were paid. (5) Additional shares of stock were issued for cash. Prepare a complete statement of cash flows for Year 2 using the indirect method.