From the following income statement (Figure 21.14), balance sheet (Figure 21.15), and additional data for Okafor Company, prepare a statement of cash flows using the indirect method. Additional Data
1. All Plant and Equipment were purchased with cash.
2. Sold additional 2,500 shares of stock for cash at par.
3. A $1,500 dividend was declared and paid.
4. Short-term notes used to finance inventory.

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Sales Cost of Goods Sold Gross Profit Operating Expenses: Rent Expense Depreciation Expense Salary Expense OKAFOR COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2021 Miscellaneous Expense Total Operating Expenses Net Income $710000 7500000 670000 305000 $96 10000 6950000 $2660000 2435000 $ 225000