Required information P12-6 (Static) (Supplement C) Preparing a Statement of Cash Flows, Indirect Method, Using the TAccount Approach [The following information applies to the questions displayed below.] Hanks Company is developing its annual financial statements at December 31, current year. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized as follows: Additional data: a. Bought fixed assets for cash, $12,000. b. Paid $6,000 on the long-term note payable. c. Sold unissued common stock for $18,500 cash. d. Declared and paid a $2,000 cash dividend. e. Incurred the following expenses: depreciation, $4,000; wages, $12,000; taxes, $2,000; and other, $12,000. 2. Prepare the statement of cash flows. (List cash outflows as negative amounts.)