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 $111 of net income, after deducting depreciation of $31. The company bought equipment costing $80 and obtained a long-term bank loan for $86. Required: 1. Calculate the change in each balance sheet account and indicate whether each account relates to operating. Investing, and/or financing activities (+ for increase and - for decrease). (Select "NE" If there is no effect. Enter all amounts os positive values.) lous Year Current Year Change Type Cash Accounts Receivable Inventory Equipment Accumulated Depreciation - Equipment Total Salaries and Wages Payable Notes Payable long term Common Stock Retained Emings Saved Common Stock Retained Earnings Total 14 400 877 $ 511 1,118 2. Prepare a statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) GOGGLE COMPANY Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities: Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities Changes in Current Assets and Current Liabilities For the Year Ended December 31 Cash Flows from Operating Activities: TER Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Changes in Current Assets and Current Liabilities 333333333333333 3333333333333333333333333333 Cash Flows from Investing Activities EN Cash Flows from Financing Activities P