Cash Flow - Indirect Method Complete the following Spreadsheet for the preparation of statement of cash flows under the indirect method.(The statement of cash flows is not required.)(Enter all amounts as positive values.) Additional Information a. Net income for the year was $117,000. 117,000 b. Dividends of $114,000 cash were declared and paid. 114,000 c. The only noncash expense was $87,000 of depreciation. 87,000 d. Purchased plant assets for $87,000 cash. 87,000 e. Notes payable of $37,000 were issued for $37,000 cash. 37,000 f. $87,000 increase in accounts receivable. 87,000 g. $37,000 decrease in inventory. 37,000 h. $27,000 decrease in accounts payable. 27,000 BLUE RIDGE CORPORATION Spreadsheet for Statement of Cash FlowsIndirect Method For Year Ended December 31 1-Jan Analysis of Changes 3-Dec Debit Credit Balance SheetDebit Bal. Accounts Cash $131,000 $94,000 Accounts receivable 137,000 Inventory 284,000 Plant assets 617,000 Totals $1,169,000 Balance SheetCredit Bal. Accounts Accumulated depreciation $117,000 Accounts payable 184,000 Notes payable 387,000 Common stock 217,000 Retained earnings 264,000 Totals $1,169,000 Statement of Cash Flows Operating activities Net income 117,000 Increase in accounts receivable Decrease in inventory Decrease in accounts payable Depreciation expense Investing activities Cash paid to purchase plant assets 87,000 Financing activities Cash paid for dividends Cash from issuance of notes payable 37,000 154,000 87,000