Alex Company reported the following information for 2022.

Additional information:

1. Operating expenses include depreciation expense of $40,000.

2. Land was sold at its book value for cash.

3. Cash dividends of $85,000 were declared and paid in 2022.

4. Equipment with a cost of $166,000 was purchased for cash. Equipment with a cost of $51,000 and a book value of $36,000 was sold for $34,000 cash.

5. Bonds of $50,000 were redeemed at their face value for cash.

6. Common stock ($1 par) was issued at par for $170,000 cash.

Use this information to prepare a statement of cash flows using the indirect method.

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Alex Company Comparative Balance Sheets December 31 2022 2021 $ 59,000 $ 36,000 22,000 62,000 44,000 -0- 6,000 4,000 55,000 70,000 200,000 200,000 (21,000) (14,000) 183,000 68,000 (28,000) (10,000) $376,000 $ 40,000 10,000 150,000 60,000 116,000 $376,000 Assets Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Totals Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock ($1 par) Retained earnings Totals $560,000 $ 43,000 -0- 100,000 230,000 187,000 $560,000 Change Increase/Decrease $ 23,000 Increase 40,000 Increase 44,000 Increase 2,000 Increase 15,000 Decrease -0- No change 7,000 Increase 115,000 Increase 18,000 Increase $3,000 Increase 10,000 Decrease 50,000 Decrease 170,000 Increase 71,000 Increase