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Tethcome 72,000 161,000 Instructions From the postings in the accounts, India e accounts, indicate how the information is reported on a statement of cash flows using the indirect method. The loss dieself plant assets was $8.000. (Hint: Costo structed is reported in is reported in the investing activities section as a decrease in cash of $53000 isposal of plant assets was $8,000. (Hint: Cost of equipment con- G O (LO 2), AP The following are com e balance sheets for Mitch Company Prepare a statement of cash flows- indirect method Mitch Company Comparative Balance Sheets December 31 2022 Assets Cash Accounts receivable Land Equipment Accumulated depreciation Total $ 68,000 88.000 167.000 80,000 260,000 (66,000) 2021 $ 22,000 76,000 189.000 100,000 200.000 (32,000) $555,000 equipment S597.000 $ 43,000 200,000 174,000 138,000 S555,000 Liabilities and Stockholders' Equity Accounts payable $ 39,000 Bonds payable 150,000 Common stock (S1 par) 216,000 Retained earnings 192.000 Total $597.000 Additional information: 1. Net income for 2022 was $93,000. 2. Depreciation expense was 534,000. 3. Cash dividends of $39,000 were declared and paid. 4. Bonds payable amounting to $50,000 were redeemed for cash $50,000 5. Common stock was issued for $42,000 cash. 6. No equipment was sold during 2022 7. Land was sold for its book value