URCES Problem 12-7A (Part Level Submission) Presented below are the financial statements of Wildhorse Company. Wildhorse Company Comparative Balance Sheets Study 2017 2016 Assets Cash Accounts receivable %41,300 23,600 33,040 70,800 (37,760) (28,320) $23,600 16,520 23,600 92,040 Property, plant, and equipment $130,980 $127,440 Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total s 22,420 $17,700 9,440 38,940 16,520 44,840 130,980 $127,440 8,260 20,060 21,240 59,000 Wildhorse Company Income Statement For the Year Ended December 31, 2017 $285,560 206,500 79,060 Sales revenue Cost of goods sold Gross proft Seiling expenses Administrative expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $21,240 7,080 28,320 50,740 3,540 47,200 9,440 $37,760 Additional data 1. Depreciation expense was $20,650. 2. Dividends declared and paid were $23,600 3. During the year equipment was sold for $10,030 cash. This equipment cost $21,240 originally and had accumulated depreciation of $11,210 at the time of sale. Y (a) Your answer is partially correct. Try again. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a sign e.g. -15,000 or in parenthesis e.g. (15,000). Prepare a statement of cash nows using the indirect method. (Show amounts that decrease cash flow with either a Cash Flows from Cash Flows from Investing Activities