Additional data:

Depreciation expense was $$17,300.$

Dividends declared and paid were $$19,860.$

During the year equipment was sold for $$6,600$ cash. This equipment originally cost $$17,600$ and had accumulated depreciation of $$11,000$ at the time of sale.

Bonds were redeemed at their carrying value.

Common stock was issued at par for cash.

$($a$)$

Your answer is partially correct.

Prepare a statement of cash flows using the indirect method. $($Show amounts that decrease cash flow with either a $-$ sign e$.$g$.-15,000$ or in parenthesis e$.$g$.(15,000).)$

CRANE COMPANY

Statement of Cash Flows $-$ Indirect Method

For the Year Ended December $31,2027$

Cash Flows from Operating Activities

Adjustments to reconcile net income to