Consider the following income statement for the Hoffman Company for the year ended December 31, 2022 and the balance sheets for December 31, 2021 and 2022. Based on these statements, construct the cash flow identity (discussed in section 2.5 of the text and PowerPoint notes) AND provide a brief analysis of what Hoffman's cash flows are indicating. Hoffman Company Balance Sheets as of December 31, 2021 and 2022 Cash Marketable securities Accounts receivable Inventory Net Fixed Assets Total Assets 2021 2022 $ 40 $ 86 24 20 225 304 884 891 2,134 3,014 $3.307 4.315 Accounts Payable Short-term Notes Payable Long-term Deferred Taxes Hoffman Company 2022 Income Statement Earnings Before Taxes Taxes Net Income Long-term Debt Common Stock Retained Earnings Total Liabilities & Equity $3,307 Sales Less: Cost of Goods Sold Less: Depreciation Earnings Before Interest and Taxes Less: Interest Paid 2021 2022 $ 221 $ 245 412 300 617 712 $2,918 1.645 221 1.052 197 855 845 $ 10 1,954 2,945 322 322 4.315