Question: Based on the data below, prepare a Statement of Cash Flows for the year 2 0 2 3 , using the Indirect Method: Net Income

Based on the data below, prepare a Statement of Cash Flows for the year 2023, using the Indirect Method:
Net Income =$1,000,000
Inventory, 1-1-23=$450,000
Inventory, 12-31-23=$400,000
AR,1-1-23=$350,000
AR,12-31-23=$300,000
AP,1-1-23=$250,000
A/P,12-31-23=$200,000
Income Tax Payable, 1-1-23=$50,000
Income Tax Payable, 12-31-23=$30,000
Purchased a building for $500,000 cash
Sold equipment for $100,000 cash
Issued common stock for $600,000
Issued bonds for $400,000
 Based on the data below, prepare a Statement of Cash Flows

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