Nathan Herrmann has completed the basic format to be used in preparing the statement of cash flows firidirect methods for CEO Consultants Listed below in random order are line items to be included in the statement of cash nows. $ 220,000 30.000 Purchase of equipment Increase in Inventory Increase in prepaid rent Payment of dividends Depreciation expense Increase in accounts receivable Loss on sale of land 40,000 20.000 60,000 10.000 2.000 70,000 50, 3.ee 250, Repayment of notes payable Cash received from the sale of land Issuance of common stock Prepare the statement of cash flows for CEO Consultants using the indirect method. (Amounts to be deducted and negative values should be Indicated by minus sign.) CEO CONSULTANTS Statement of Cash Flows For the Year Ended December 31, 2021 Cash Flows from Operating Activities Net income Adjustments to reconcile net income to net cash flows from operating activities Depreciation expense Loss on sale of land Increase in accounts receivable Increase in inventory Increase in prepaid rent Increase in accounts payable S Net cash flows from operating activities Cash Flows from Investing Activities Purchase of equipment Net cash flows from investing activities Cash Flows from Financing Activities Prepare the statement of cash flows for CEO Consultants using the indirect method (Amounts to be deducted and negative values should be indicated by minus sign.) CEO CONSULTANTS Statement of Cash Flows For the Year Ended December 31, 2021 Cash Flows from Operating Activities het income Adjustments to reconcile net income to net cash flows from operating activities Depreciation expense Loss on sale of land Increase in accounts receivable Increase in inventory Increase in prepaid rent Increase in accounts payable Net cash flows from operating activities Cash Flows from Investing Activities Cash received from sale of land Purchase of equipment Net cash flows from investing activities Cash Flows from Financing Activities Issuance of common stock Payment of dividends Repayment of notes payable Net cash flows from financing activities (50,000) Cash at the beginning of the period Cash at the end of the period 95,000 45.000 $