Problem 14-18A (Algo) Using financial statements to prepare a statement of cash flows-indirect method LO 14-1, 14-3, 14-4 The comparative balance sheets and income statements for Baird Company follow: Additional Dato 1. During Year 2 the company sold equipment for $18,355; it had originally cost $31,400. Accumulated depreciation on this equipment was $13,545 at the time of the sale. Also, the company purchased equipment for $6,630 cash. 2. The company sold land that had cost $4,380. This land was sold for $4,300, resulting in the recognition of a $80 loss, Also, common stock was issued in exchange for title to land that was valued at $12:100 at the time of exchange. 3. Pold dividends of $9,872 Required Prepare a statement of cash flows using the indirect method. Note: Amounts to be deducted and cash outflows should be indicoted by a minus sign. BAIRD COMPANY Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from operating activities: \begin{tabular}{|l|l|} \hline Net income \\ \hline Less: Increase/Decrease in current assets and current liabilities: \\ \hline Decrease in inventory & \\ \hline & \\ \hline \end{tabular} Plus. Noncash charges Cash flows from investing activities Cash flows from financing activities Cash flows from investing activities. Cash flows from financing activities