Problem 12-18A (Algo) Using financial statements to prepare a statement of cash flows-Indirect method LO 12-1, 12-3, 12-4 The comparative balance sheets and income statements for Gypsy Company follow. Liabilities and stockholders' equity Accounts payoble (inventory) \$2,599 \$4,199 Long-term debt 2,843 6,498 Common stock 24,800 11,500 Retained earnings 27,72019,890 Total liabilities and stockholders' equity $57,962$42,087 Jabilities and stockholders' equity Accounts payable (inventory) $2,599$4,199 Long-term debt 2,8436,498 Common stock 24,80011,500 Retained earnings 27,72019,890 Total llablities and stockholders' equity $57,962$42,087 Additional Data 1. During Year 2 , the company sold equipment for $18,415; it had originally cost $28,100. Accumulated depreciation on this equipment was $10,485 at the time of the sale. Also, the company purchased equipment for $7,330 cash. 2. The company sold land that had cost $4,360. This land was sold for $4,300, resulting in the recognition of a $60 loss. Also, common stock was issued in exchange for title to land that was valued at $13,300 at the time of exchange. 3. Paid dividends of $7.831. Required Prepare a statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Required Prepare a statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign