Prepare the statement of cash flows using the indirect format. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Wildhorse Ltd. Comparative Statement of Financial Position December 31 Assets 2021 2020 Cash $ 96,760 $ 59,000 Accounts receivable 160,480 120,360 Inventory 94,400 141,600 Prepaid insurance 11,800 9,440 Equipment 363,440 306,800 Accumulated depreciation-equipment (82,600) (59,000) Patents 94,400 118,000 Total assets $ 738,680 $ 696,200 Liabilities and Shareholders' Equity Accounts payable $ 108,560 $ 94,400 Interest payable 9,440 14,160 Salaries and wages payable 18,880 9,440 Income taxes payable 18,880 23,600 Long-term note payable 141,600 162,840 Common shares 306,800 306,800 Retained earnings 134,520 84,960 Total liabilities and shareholders' equity $ 738,680 $ 696,200 Additional information: 1. 2. Net income for the fiscal year was $63,720. Equipment that cost $47,200 and was 70% depreciated was sold during 2021, for a gain of $4,720. No patents were purchased or sold during the fiscal year. 3. Prepare the statement of cash flows using the indirect format. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) Wildhorse Ltd. Statement of Cash Flows $ Adjustments to reconcile net income to net cash provided by operating activities: >