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CullumberCompany runs a retail company and recently completed its third year of operations. The balance sheet and income statement follow: Assets 2014 2013 Cash $44,520 $48,804 Accounts receivable 17.640 20,412 Inventory 25,872 24,528 103,320 77,280 Equipment Accumulated depreciation Total assets 23,940 20,328 $167.412 $150,696 $27.720 $30,492 9.240 6.720 23.520 30.240 Liabilities and Equity Accounts payable Income taxes payable Long-term notes payable Common stock $2 par Paid-in capital in excess of par Retained earnings Total liabilities and equity 12,600 10,080 31.920 26,040 59.640 49.896 $167,412 $150.696 Income Statement for 2014 Sales revenue $283,416 Cost of goods sold 171,360 Depreciation expense 3,612 Other expenses 73,080 Income taxes 12,180 Net income $23,184 Additional Information on Year 2014 Transactions 1 2. Purchased equipment by signing a long-term note for $6,720 and paying cash for the balance. Paid cash as a payment on the long-term notes payable. Issued 84 shares of common stock for cash. Declared and paid cash dividends of $13,440. 3 4. Prepare a statement of cash flows for 2014 using the indirect method. (Show amounts that decrease cash flow with either a -sign -15,000 or in parenthesis eg (15,000).) Cullumber Company search o BI 99+ CullumberCompany Statement of Cash Flows-Indirect Method $ Adjustments to reconcile net income to $

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