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Indirect Method-Preparing a Statement of Cash Flows Calex Inc. reported the following December 31 comparative balance sheets. Additional information: 1. Net income for the current year was $51,675. 2. No disposals of equipment took place during the year. Prepare the statement of cash flows for the current year ended December 31, using the indirect method to report cash flows from operating activities. - Note: Include a negative sign (-) for any amount that would be subtracted in the statement of cash flows. \begin{tabular}{|c|c|c|c|} \hline CalexInc.StatementofCashFlowsFortheCurrentYearEndedDecem & & & \\ \hline Cash flows from operating activities & & & \\ \hline Net income & & $ & x \\ \hline Adjustments: & & & \\ \hline Depreciation expense & & 0 & x \\ \hline Change in accounts receivable & & 0 & x \\ \hline Change in salaries payable & & 0 & x \\ \hline Net cash from operating activities & & 0 & x \\ \hline Cash flows from investing activities & & & \\ \hline Cash paid for acquisition of equipment & & 0 & x \\ \hline Net cash from financing activities & & 0 & x \\ \hline Cash flows from financing activities & & & \\ \hline & & & x \\ \hline Net cash from financing activities & & 0 & x \\ \hline Net change in cash and cash equivalents during the year & & 0 & x \\ \hline Cash and cash equivalents, January 1 & & 0 & x \\ \hline Cash and cash equivalents, December 31 & & $ & x \\ \hline \end{tabular}

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