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Use the Callaho Inc. Financial statements and supplementary information given below to prepare a statement of cash flows for the year ended December 31, 2014, using the Indirect method. Additional Information: a. Purchased equipment for 537,000 cash. b. Sold the long-term investment on January 1, 2014 for $31,000 Soid equipment for 517,000 cash that had originally cost 563,500 and had 544,500 of accumulated depreciation. d Issued 40,000 of bonds payable at face value e. The short-term investment is a treasury bil that was purchased with maturty in 90 days. Callaho Inc Comparative Balance Sheet Information December 31 Assets 2014 2013 Cash 445.700 270.000 Short-term investments 65.000 63.000 Accounts receivable 120.000 89,000 Merchandise inventory 14.100 11,000 Long term investment 0 47,000 Equipment 208.500 240,000 Accumulated depreciation (545.500) (156.000) Totale 708.400 535.000 polectone) Statement of Cash Flow select one) Cash flows from operating activities Adjust to reconcile net income to cash provided by operad x Cash flows from investing activities X Cash flows from financing activities Liabilities and Equity Accounts payable Dividenda payable Bonds payable Share capital Retained earnings Total liabilities and equity 117,400 33.000 40.000 254.000 204.000 708.400 68,000 35.000 o 254,000 178,000 536,000 Net Increase (decrease in cash Cash at beginning of year. cash at end of year Culiano Inc Income Statement For Year Ended December 31, 2014 Sales 900.000 Cost Of Goods Sold 730.000 Depreciation expense 35,000 Other expenses 20,000 (791.000) Low on sale of long-term Investment (10.000) Low on sale of equipment 17.000) Net income 00,000

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