Laura’s Fresh Cooking Inc. began operations on January 1, 2022. Laura’s prepares gourmet dinners and delivers to customers in fresh coolers; customers put them in the oven and have a meal within 30 minutes. The business seems to be a success! Its post-closing trial balance at December 31, 2022 and 2023 is shown below along with some other information.

Other information regarding Laura’s Fresh Cooking Inc. and its activities during 2023:1. Assume all accounts have normal balances.2. Cash dividends were declared and paid during the year.3. There were no sales of property, plant, and equipment assets during the year.4. Investments were sold for cash at their original cost.

RequiredUsing the information provided, prepare a statement of cash flows (applying the direct method) for the year ended December 31, 2023.

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Laura's Fresh Cooking Inc. Income Statement For Year Ended December 31, 2023 Revenues: Sales Cost of goods sold Gross profit Expenses: Other expenses Depreciation expense Total operating expenses Profit from operations Income tax expense Profit Laura's Fresh Cooking Inc. Post-Closing Trial Balance December 31 Account Cash Receivables Merchandise inventory Property, plant, and equipment Accumulated depreciation Investments Accounts payable Accrued liabilities Bonds payable Common shares Retained earnings $8,000 1,600 2023 $36,800 $19,200 28,700 21,600 26,400 32,100 31,200 28,000 20,000 18,400 21,600 23,200 20,000 15,200 3,200 4,800 30,300 32,000 31,200 22,500 40,000 31,200 2022 $38,640 16,160 $22,480 9,600 $12,880 2,880 $10,000