Using the following information, complete an indirect method SCF in good form. The SCF should be presented in the worksheet labeled "Statement of Cash Flows".

Tips:

Follow the steps provided in class to create the SCF$,$ including using supporting T accounts.

Record the journal entry for the sale of equipment to determine the cash effect of this transaction

$12/31/202512/31/2024$ Current Assets: Cash $$$$5,900$$$6,900$$$1,000\mathrm{.}00$ Accounts Receivable $61,40051,200$$$(10,200\mathrm{.}00)$ Inventory $45,20063,800$$$18,600\mathrm{.}00$ Total Current Assets $112,500121,900$ PPE $152,700130,200$ Accumulated Depreciation $(35,400)(25,000)$ Land $80,40067,900$ Total Assets $$$$310,200$$$295,000$ Current Liabilities: Accounts Payable $$$$46,300$$$40,4005,900$ Wages Payable $12,0009,9002,100$ LT Notes Payable $68,30079,500$ Total Liabilities $126,600129,800$ Stockholders' Equity: Common Stock $130,000130,000$ Retained Earnings $53,60035,200$ Total Stockholders' Equity $183,600165,200$ Total Liabilities & Stockholders' Equity $$$$310,200$$$295,000$ Sales Revenue $$$$335,000$ Less Cost of Goods Sold $175,125$ Gross Profit $159,875$ Operating Expenses $(120,100)$ Operating Income $39,775$ Interest Expense $(11,400)$ Gain on Sale of Equipment $2,500$ Income Before Taxes $30,875$ Less Income Tax Expense $6,075$ Net Income $$$$24,800$ Additional Information: $1)$ The company sold equipment that had an original cost of $$20,100$Amount equipment was depreciated at sale $70\%2)$ There have been no sales of land during the year. $3)$ Depreciation expense is included in operating expenses. $4)$ There have been no additional borrowings under the long term note payable. $5)$ There has been no repurchase of treasury stock. $6)$ Dividends were declared and paid during $2025$