(Appendix 11B) Using a Spreadsheet to Prepare a Statement of Cash Flows Jane Bahr, a controller of Endicott \& Thurston, provided the following balance sheet information: 1. Computing equipment with a cost of $250,000 and accumulsted depreciation of $230,000 was sold for $5,000. New computing equipment was purchased for $380,000. 2. New office furniture was purchased at a cost of $35,000. 3. Depreciation expense was $42,000 4. Investments costing $70,000 were sold for cash at a foss of $2,000. Additiondl investments were purchased for $31,000 cash. 5. A $25,000 principal payment on the long-term note was made. 6. A portion of the cash needed to purchase computing equipment was secured by issuing bonds payable for $140,000 cash. 7. Net income was $74,000 and dividends were $38,000. Required: 1. Using the data above and Exhibit 10 as a guide, create a sproadsheet to prepare a statement of cash flows. 2. Using your spreadsheet, construct the Statement of Cash Flaws below. Assume Endicott \& Thurston use the indirect method. Use a minus sign aben entering negative cash for Endicott and Thurston Associates Statement of Cash Flows For the year ending December 31 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by operating activities: Cash flows from investing activities: Cash flows from financing activities: Adjustments to reconcile net income to net cash provided by operating activities: Cash flows from investing activities: Cash flows from financing activities: Cash, Jan. 1 Cash, Dec. 31