The following comparative balance sheets and income statement are available for AddieMae Inc. Prepare a statement of cash flows for 2024 using the indirect method and analyze the statement.

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December 31, 2024 2023 Cash $ 3,300 $1,000 Accounts receivable (net) 1,100 600 Inventory 11,200 4,300 Total Current Assets $15,600 $5,900 Plant and equipment $ 3,000 $2,300 Less accumulated depreciation (1,300) (800) Plant and equipment (net) $1,700 $1,500 Long-term investments 1,200 900 Total Assets Accounts payable Accrued liabilities $18,500 $8,300 $ 3,300 $2,500 700 600 Income taxes payable Long-term debt 400 100 Total Current Liabilities $ 4,400 $3,200 200 0 Total Liabilities Common stock ($1 per) and additional paid-in capital Retained earnings Total Liabilities and Equity $ 4,600 $3,200 9,900 7,300 4,000 (2,200) $18,500 $8,300 Sales Cost of goods sold Gross profit Selling and administrative Depreciation Operating profit Interest expense Earnings before tax Tax expense Net income Income Statement for 2024 $28,800 500 $94,000 55,000 $39,000 29,300 $ 9,700 100 $ 9,600 3,400 $ 6,200