Don't give answer in image The comparative statements of financial position of Mikos Inc. as of December 31, 2023 and 2024 and its statement of earnings for theyear ended December 31, 2024 are presented below:AssetsCashMIKOS INC.Comparative Statements of Financial PositionDecember 31Short-term investmentsAccounts receivableInventories, at costPrepaid expensesLandProperty, plant, and equipment, netIntangible assetsLiabilities and Shareholders' EquityAccounts payableIncome tax payableAccrued liabilitiesLong-term notes payableShare capitalRetained earningsSalesCost of sales.Operating expensesAmortization expense-intangible assetsDepreciation expense-property, plant, and equipmentInterest expenseEarnings before income taxesIncome tax expenseNet earningsCash flows from operating activitiesNet cash flows from operating activitiesAdjustments to reconcile net earnings to net cash provided by operating activities:Cash flows from investing activities:2023$ 9,300 $17,30050,10069,50054,600Net cash flows used for investing activitiesCash flows from financing activities.2024Additional Information is as follows:a. Land was sold for cash at its carrying amount.b. Mikos sells its short-term investments within three months of purchasing them.MIKOS INC.Statement of Cash FlowsFor the Year Ended December 31, 2024Net cash flows from financing activities4,30046,200MIKOS INC.Statement of Earnings:For the Year Ended December 31, 2024c. Cash dividends were declared and paid in 2024.d. New equipment with a cost of $166,300 was purchased for cash, and old equipment was sold at its carrying amount.e. Long-term notes of $11,500 were paid in cash, and notes of $31,500 were converted to shares.Hequirea:1. Prepare a statement of caMikos Inc. for the year ended December 31, 2024 by using the indirect method. (Negativeanswers should be indicated by a minus sign.)of cash flows23,90027,20040,3006,60071,500281,200180,50024,30028,600$539,500 $395,900$ 17,300 $ 40,6006,6001,30010,300-8-113,000 156,000206,00061,500186,300 136,500$539,500 $395,900$859,000$433,000224,0004,30033,30012,300 706,900152,10045,630$106,470

A cash flow statement indicates cash inflow and cash outflow information for a particular time…

The comparative statements of financial position of Mikos Inc. as of December 31, 2023 and 2024 and its statement of earnings for the year ended December 31, 2024 are presented below. Assets Cash MIKOS INC. Comparative Statements of Financial Position December 31 Short-term investments Accounts receivable Inventories, at cost Prepaid expenses Land Property, plant, and equipment, net Intangible assets Liabilities and Shareholders' Equity Accounts payable Income tax payable Accrued liabilities Long-term notes payable Share capital Retained earnings Sales Cost of sales Operating expenses Amortization expense-intangible assets Depreciation expense-property, plant, and equipment Interest expense Earnings before income taxes Income tax expense Net earnings Cash flows from operating activities Net cash flows from operating activities Adjustments to reconcile net eamings to net cash provided by operating activities Cash fows from investing activibes 2024 2823 $ 9,300 $ 17,300 23,900 50,100 69,500 27,200 54,600 MXOS INC. Statement of Cash Flows For the Year Ended December 31, 2024 Net cach tows used for evesting activities Cash flows from trancing actvibes Net cashews from trancing actives MIKOS INC. Statement of Earnings For the Year Ended December 31, 2024 40,300 6,600 71,500 180,500 28,600 4,300 46,200 281,200 24,300 $539,500 $395,900 $ 17,300 $ 40,600 6,600 10,300 Additional Information is as follows: a Land was sold for cash at its carrying amount b. Mikos sells its short-term investments within three months of purchasing them. c. Cash dividends were declared and paid In 2024. d. New equipment with a cost of $166,300 was purchased for cash, and old equipment was sold at its carrying amount. e. Long-term notes of $11,500 were paid in cash, and notes of $31,500 were converted to shares. Hequirea 1 Prepare a statement of cash flows for Micos Inc for the year ended December 31, 2024 by using the indirect method. (Negative answers should be indicated by a minus sign) 1,300 -8- 113,000 156,000 206,000 61,500 186,300 136,500 $539,500 $395,900 $433,000 224,000 4,300 33,300 12,300 $859,000 706,900 152,100 45,630 $106,470