E12-7 Preparing and Evaluating a Simple Statement of Cash Flows (Indirect Method) [LO 12-1, LO 12-2, LO 12-5) Suppose the income statement for Goggle Company reports $159 of net income, after deducting depreciation of $19. The company bought equipment costing $140 and obtained a long-term bank loan for $144. Required: 1. Calculate the change in each balance sheet account and indicate whether each account relates to activities (+ for increase and for decrease). (Select "NE" if there s Year Current Year Change Type Cash 362+ 207 151 720 (48) 311 Cash 116Operating 189 Operating 140 51 $ 91 Accumulated De (29) Total $1,033$1392 Salaries and Wage 26 S 82S6 Operating 461 26 NE Common Stock Retained Earnings 520 679 159 Total $ 1,0331,392 Prepare a statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) 2