repare a statement of cash flows under the indirect method. Use a minus to indicate any decreases in cash or cash outflows ains and Losses on the Sale of Long-Term Assets he income statement for Hubbard's Professional Edge Tennis Camp follows. Assume that all revenues and expenses were for cash and that land was sold for $500. There were no other investing or financing activities during the year. The Cash balances at the beginning and end of the year were $100 and $1,130, respectively. Hubbard's Professional Edge Tennis Camp Income Statement For Year Ended December 31, 20-2 Sales (all cash) Wages expense (al cash) Operating income Gain on sale of land Net income $1,980 1,450 $530 100 $630 Cash Flows Prepare a statement of cash flows under the indirect method. Use a minus to indicate any decreases in cash or cash outflows. Hubbard's Professional Edge Tennis Camp Statement of Cash Flows For Year Ended December 31, 20-2 Cash flows from operating activities: Net cash provided by operating activities Investing activities: Cash, January 1, 20-2 Cash, December 31, 20-2