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In: AccountingPresented below are the comparativeDecember 31 financial statements for Noland Plumbing (in $Millions). Prepare...Presented below are the comparativeDecember 31 financial statements for Noland Plumbing (in $Millions). Prepare the operating section of the statement of cashflows for December 31, Year 2 using the indirect method. Martin Industries, Inc. Balance Sheets At December 31, Year 2 and Year 1Year 2Year 1Cash$96,719$28,694Accounts Receivable100,00085,313Inventory206,250181,250Prepaid InsuranceLong-term Investments1,87519,3752,500106,250Land, Buildings, and Equipment1,562,5001,406,250Accumulated Depreciation(762,500)(715,000)_ Total Assets$1,224,219$1,095,257Accounts Payable$95,425$185,838Salaries Payable25,00030,625Notes Payable (long-term)31,25093,750Bonds Payable250,000-Common Stock375,000375,000Retained Earnings447,544410,044$1,224,219$1,095,257Additional information for Year 2(1) Sold available for sale securitiescosting $86,875 for $92,500.(2) Equipment costing $25,000 with abook value of $6,250 was sold for $7,500 (Hint: You must using thisinformation to find depreciation expense and the gain or loss onsale.(3) Net income was $62,500.