Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Debits Credits by: $ 93,200 170, 100 Credits > Debits by: $ 83,300 5,000 115,000 Cash Accounts receivable Inventory Prepaid expenses Long-term loans to subsidiaries Long-term investments Plant and equipment Accumulated depreciation Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings 95,000 321,000 65,100 49,200 5,600 9,600 403,000 122,000 $ 806,900 76,700 $806,900 The following additional information is available about last year's activities: The following additional information is available about last year's activities: a. Net income for the year was $_? b. The company sold equipment during the year for $35,100. The equipment originally cost $160,700 and it had $126,700 in accumulated depreciation at the time of sale, c. Cash dividends of $10,900 were declared and paid during the year, d. The beginning and ending balances in the plant and Equipment and Accumulated Depreciation accounts are given below: plant and equipment Accumulated depreciation Begioning Ending $2,876,000 33, 197,000 $980,600 51,045,700 e. The balance in the Cash account at the beginning of the year was $109,500, the balance at the end of the year was $_? 1. If data are not given explaining the change in an account make the most reasonable assumption as to the cause of the change, Required: Using the indirect method, prepare a statement of cash flows for the year (List any deduction in cash and cash outflows as negative amounts.) Yoric Company Statement of Cash Flows Operating activities: Net income Adjustments to convert net income to a cash basis: Depreciation Increase in accounts receivable Decrease in inventory Decrease in prepaid expenses Increase in accounts payable Decrease in accrued liabilities Increase in income taxes payable Gain on sale of equipment 0 0 Net cash provided by operating activities Investing activities: Decrease in long-term loans to subsidiaries Proceeds from sale of equipment Additions to long-term investments Additions to long-term investments Additions to plant and equipment 0 Net cash used in investing activities Financing activities: issuance of bonds payable Repurchase of common stock Cash dividends paid 0 0 0 Net cash provided by financing activities Net increase in cash Beginning cash and cash equivalents Ending cash and cash equivalents $ 0