Preparing a Statement of Cash Flows (Indirect Method) The following financial statements were issued by Hoskins Corporation for the fiscal year ended December 31, Year 8. All amounts are in millions of U.S. dollars. Additional information: 1. During fiscal Year 8 , Hoskins Corporation acquired new equipment for $3,600 in cash. In addition, the company disposed of used equipment that had original cost of $3,900 and accumulated depreciation of $2,100, receiving $1,800 in cash from the buyer. 2. During fiscal Year 8, Hoskins Corporation arranged short-term bank financing and borrowed $4,500, using a portion of the cash to repay all of its outstanding long-term debt. 3. During fiscal Year 8, Hoskins Corporation engaged in no transactions involving its common stock, although it did declare and pay in cash a common stock dividend of $750. REQUIRED Using the spreadsheet approach from the chapter appendix, prepare a statement of cash flows (all three sections) for Hoskins Corporation's fiscal Year 8, using the indirect method for the cash from operations section. Preparing a Statement of Cash Flows (Indirect Method) The following financial statements were issued by Hoskins Corporation for the fiscal year ended December 31, Year 8. All amounts are in millions of U.S. dollars. Additional information: 1. During fiscal Year 8 , Hoskins Corporation acquired new equipment for $3,600 in cash. In addition, the company disposed of used equipment that had original cost of $3,900 and accumulated depreciation of $2,100, receiving $1,800 in cash from the buyer. 2. During fiscal Year 8, Hoskins Corporation arranged short-term bank financing and borrowed $4,500, using a portion of the cash to repay all of its outstanding long-term debt. 3. During fiscal Year 8, Hoskins Corporation engaged in no transactions involving its common stock, although it did declare and pay in cash a common stock dividend of $750. REQUIRED Using the spreadsheet approach from the chapter appendix, prepare a statement of cash flows (all three sections) for Hoskins Corporation's fiscal Year 8, using the indirect method for the cash from operations