Comparative balance sheets for International Company are as follows.

Additional information:

1. Net income for 2022 was $135,000.
2. Cash dividends of $70,000 were declared and paid.

3. Bonds payable with a carrying value of $50,000 were redeemed for $50,000 cash.
4. Common stock was issued at par for $50,000 cash.
5. Depreciation expense was $24,000.
6. Sales revenue for the year was $978,000.
7. Land was sold at cost, and equipment was purchased for cash.

Instructions
Prepare a worksheet for a statement of cash flows for 2022 using the indirect method. Enter the reconciling items directly on the worksheet, using letters to cross-reference each entry.

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Assets Cash Accounts receivable Inventory Land International Company Comparative Balance Sheets December 31 Equipment Accumulated depreciation-equipment Total 2022 $ 73,000 85,000 180,000 75,000 250,000 (66,000) $597,000 2021 $ 22,000 76,000 189,000 100,000 200,000 (42,000) $545,000