Prepare a statement of cash flows using the indirect method. The income statement for 2023 and the balance sheets for 2023 and 2022 are presented for Harding Industries, Inc.

Additional information follows:a. Sold plant asset for $4,300. The original cost of this plant asset was $10,300 and it had $10,000 of accumulated depreciation associated with it.b. Paid $6,500 on the bonds payable; issued $48,500 of new bonds payable.c. Declared and paid cash dividends of $36,800.d. Purchased new investment for $12,000. Paid cash.e. Purchased new equipment for $40,300. Paid cash.

RequirementPrepare a statement of cash flows for Harding Industries, Inc., for the year ended December 31, 2023, using the indirect method.

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1234L 5 6 7 8 9 Harding Industries, Inc. Income Statement For the Year Ended December 31, 2023 BEI Sales revenues Less: Cost of goods sold Gross profit Less operating expenses: Salaries and wages expense Insurance expense Depreciation expense Other operating expenses Total operating expenses 10 11 12 13. 14 Operating income 15 Plus other income and less other expenses: 16 Interest expense Gain on sale of PP&E 17 18 Total other income and expenses 19 Income before income taxes 20 Less: Income tax expense 21 Net income 22 $ $ B 190,000 10,500 52,000 84,000 5,800 4,000 $ $ $ $ IS C 956,000 381,000 575,000 336,500 238,500 1,800 236,700 71,010 165,690