Prepare a complete statement of cash flows using the indirect method utilizing the company's income statement and balance sheet. Umlauf Corporation Comparative Balance Sheets December 31, 2015 and 2014 2015 2014 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets $43,050.00 $23,925.00 $34,125.00 $39,825.00 $156,000.00 $146,475.00 $3,600.00 $1,650.00 $236,775.00 $211,875.00 Equipment Accum deprec-Equipment Total assets $135,825.00 $146,700.00 $61,950.00 $47,550.00 $310,650.00 $311,025.00 Liabilities and Equity Accounts payable Income taxes payable Diviedend payable Total current liabilities $28,800.00 $33,750.00 $5,100.00 $4,500.00 $0.00 $4,425.00 $33,900.00 $42,675.00 Bonds payable Total liabilities $0.00 $37,500.00 $33,900.00 $80,175.00 Equity Common stock $5 par Paid in Capital Retained earnings Total liabilities and equity $168,750.00 $168,750.00 $0.00 $0.00 $108,000.00 $62,100.00 $310,650.00 $311,025.00 Umlauf Corporation Income Statement For Year End December 31, 2015 Sales Cost of Sales Gross Profit $446,100.00 $222,300.00 223,800.00 Operating Expense Depreciation Other Expense Loss on sale of Bonds Loss on sale of equipment Income before taxes Income tax expense Net Income $25,500.00 $120,300.00 $825.00 $3,300.00 $73,875.00 $13,725.00 $60,150.00 a). Equipment costing $21,375 with accumulated depreciation of $11,100 is sold for cash. b). Equipment purchases are for cash c). Acumulated Depreciation is affect by depreciation and sale of equipment. d). Retained Earnings is affected by dividend declared and net income. e). All sales are made on credit f). All inventory purchases B). Accounts Payable balances result from inventory purchases