On the basis of the following data for Garrett Co.for Years 1 and 2 ended December 31,prepare a statement of cash flows using the indirect method of reporting cash flows from operating activities.Assume that equipment costing $125,000 was purchased for cash and equipment costing $85,000 with accumulated depreciation of $65,000 was sold for $15,000; that the stock was issued for cash; and that the only entries in the retained earnings account were for net income of $56,000 and cash dividends declared of $18,000. 
Definitions:
Mood
A temporary state of emotion that influences an individual's feelings and behaviors and can affect perception and decision-making.
Ethics
The branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong behavior.
American Psychological Association
A professional organization representing psychology in the United States, dedicated to advancing psychology as a science, profession, and means of promoting health and welfare.
Animal Experiments
Research studies conducted on non-human animals to investigate biological, behavioral, or psychological phenomena.
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