Problem 11-2A (Algo) Classify items and prepare the statement of cash flows (LO11-1, 11-3, 11-4, 11-5) Seth Erkenbeck, a recent college graduate, has just completed the basic format to be used in preparing the statement of cash flows (indirect method) for ATM Software Developers. All amounts are in thousands (000s). ATM SOFTWARE DEVELOPERS Statement of Cash Flows For the Year Ended December 31, 2024 Cash Flows from Operating Activities Net income Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net increase (decrease) in cash Net cash flows from financing activities $1,965 Cash at the beginning of the period 7,985 Cash at the end of the period $9,950 Listed below in random order are line items to be included in the statement of cash flows. Cash received from the sale of land (no gain or loss) $ 8,500 Issuance of common stock 12,700 Depreciation expense Increase in accounts receivable Decrease in accounts payable Issuance of long-term notes payable Purchase of equipment Decrease in inventory Decrease in prepaid rent 5,390 3,940 1,685 16,120 39,490 1,400 830 Net income Payment of dividends Purchase of treasury stock Required: 6,220 10,900 2,540 Prepare the statement of cash flows for ATM Software Developers using the indirect method. (Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000,000 should be entered as 10,000).) Cash Flows from Operating Activities ATM SOFTWARE DEVELOPERS Statement of Cash Flows For the Year Ended December 31, 2024 Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Cash at the beginning of the period Cash at the end of the period $ 0 0 0 $ 0