Question: prepare a statement of cash flows using yhe indirect method for 2024. Additional information regarding 2024: 1. Net income was $64,000. 2. Depreciation expense was

prepare a statement of cash flows using yhe indirect method for 2024.

2024. Additional information regarding 2024: 1. Net income was $64,000. 2. Depreciation

Additional information regarding 2024: 1. Net income was $64,000. 2. Depreciation expense was $20,000. 3. Payments made to the bank pertaining to the bank loan were $10,000. The company obtained some new bank loans during the year: 4. Common shares were issued during the year and the company did not buy back any shares. 5. During the year, the company did not sell any furniture. (a) Prepare a statement of cash nows using the indirect method for 2024. (Show amounts that decrease cash flow with either a - sign e. 15,000 or in parenthesls es (15,000)J

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