I The only entries in the Retained Earnings account were for net income and dividends of $29,000 and $20,000, respectively No buildings were sold during the period and stock was issued for cash. Prepare a statement of cash flows using the indirect approach. Prepare a statement of cash flows, using the indirect method Corporation AAA Statement of Cash Flows For the Year Ended December 31, 2018 1. Cash flows from Operating Activities (OA): Net income (1) $1,490 Depreciation expenses (2) Equity in Green Company net income Loss on sales of machinery (4) Amortization expense of patents (5) Decrease in Accounts Receivable (S2,950-$3,050) Increase in Prepaid Insurance ($5,490-$4.310) Increase in Wages Payable ($6,040-S5,630) Increase in defered taxes payable (S410-$300) Net cash flows from operating activities 2. Cash flows from Investing Activities (LA) Sold machinery (7) Purchased machinery (8) Net cash flow from investing activities 3. Cash flows from Financing Activities (FA): Cash dividends paid (6) Sold treasury stock (9) Issued preferred stock (11) 530 (3) (130) 50 40 100 ( 1,180) $410 $110 $1,420 $190 (630) (S440) (S430) 250 230 $50 Net cash flows from financ $1,030 Increase in cash 1,800 Add: Beginning cash $2.830 Ending cash I The only entries in the Retained Earnings account were for net income and dividends of $29,000 and $20,000, respectively No buildings were sold during the period and stock was issued for cash. Prepare a statement of cash flows using the indirect approach. I The only entries in the Retained Earnings account were for net income and dividends of $29,000 and $20,000, respectively No buildings were sold during the period and stock was issued for cash. Prepare a statement of cash flows using the indirect approach. Prepare a statement of cash flows, using the indirect method Corporation AAA Statement of Cash Flows For the Year Ended December 31, 2018 1. Cash flows from Operating Activities (OA): Net income (1) $1,490 Depreciation expenses (2) Equity in Green Company net income Loss on sales of machinery (4) Amortization expense of patents (5) Decrease in Accounts Receivable (S2,950-$3,050) Increase in Prepaid Insurance ($5,490-$4.310) Increase in Wages Payable ($6,040-S5,630) Increase in defered taxes payable (S410-$300) Net cash flows from operating activities 2. Cash flows from Investing Activities (LA) Sold machinery (7) Purchased machinery (8) Net cash flow from investing activities 3. Cash flows from Financing Activities (FA): Cash dividends paid (6) Sold treasury stock (9) Issued preferred stock (11) 530 (3) (130) 50 40 100 ( 1,180) $410 $110 $1,420 $190 (630) (S440) (S430) 250 230 $50 Net cash flows from financ $1,030 Increase in cash 1,800 Add: Beginning cash $2.830 Ending cash I The only entries in the Retained Earnings account were for net income and dividends of $29,000 and $20,000, respectively No buildings were sold during the period and stock was issued for cash. Prepare a statement of cash flows using the indirect approach