The comparative balance sheet of ConnieJo Company for Years 1 and 2 ended December 31 appears in condensed form as follows: Year 2 Year 1 Cash $45,000 $53,500 Accounts receivable (net) 51,300 58,000 Inventories 147,200 135,000 Investments 0 60,000 Equipment 493,000 375,000 Accumulated depreciation—equipment (113,700) (128,000) Total assets $622,800 $553,500 Accounts payable $61,500 $42,600 Bonds payable, due Year 4 0 100,000 Common stock, $10 par 250,000 200,000 Paid-in capital in excess of par—common stock 75,000 50,000 Retained earnings 236,300 160,900 Total liabilities and stockholders' equity $622,800 $553,500 The income statement for the current year is as follows: Sales $629,700 Cost of goods sold (341,800) Gross profit $287,900 Operating expenses: Depreciation expense $24,700 Other operating expenses 75,300 Total operating expenses (100,000) Operating income $187,900 Other revenue and expense: Gain on sale of investments $5,000 Interest expense (12,000) (7,000) Income before income tax $180,900 Income tax expense (64,100) Net income $116,800 Additional data for the current year are as follows: Fully depreciated equipment costing $39,000 was scrapped, no salvage, and equipment was purchased for $157,000. Bonds payable for $100,000 were retired by payment at their face amount. 5,000 shares of common stock were issued at $15 for cash. Cash dividends declared were paid, $41,400. All sales are on account. Prepare a statement of cash flows, using the indirect method of reporting cash flows from (used for) operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. ConnieJo Company Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from (used for) operating activities: $- Select - Adjustments to reconcile net income to net cash flows from (used for) operating activities: -