Complete the statement of cash flows (indirect method) shown below by using formulas that reference data from the income statement and balance sheet (found by clicking the tabs at the bottom of this worksheet.

File Home Insert Draw Formulas Data Review View Help Calibri A1 fx Note: Additional information is included at the bottom of the s 2. Land costing $46,500 was sold, resulting in a gain of $6,500. No other long-term assets wer 3. Additional long-term investments were purchased. 4. An additional long-term note payable was signed. No repayments on notes were made. 5. Additional common stock was issued. 37 38 39 a. O Income Statement Balance Sheet Graded Worksheet + Excel McGraw Hill Excel Question - Saved Search (Alt + Q) File Home Insert Draw Formulas Data Review View Help Calibri Merge fx Accessibility tab summary: The income statement for Innovation Electronics Incorporated is presented in cells A1 A1 A B C D E F G H 1 Required: Complete the statement of cash flows (indirect method) shown below by using formulas that reference data from the income statement and balance sheet (found by clicking the tabs at the bottom of this worksheet. Note: Blank cells may be included in calculations. 6 7 (Negative amounts or amounts to be deducted should be input and displayed as negative values.) 8 9 INNOVATION ELECTRONICS, INC. Statement of Cash Flows For the Year Ended December 31, 2022 12 Cash Flows from Operating Activities: 13 Net income 14 Adjustments to reconcile net income to net cash 15 provided by operating activities: 16 Depreciation expense 17 Gain (on sale of land) 18 Changes in current assets and current liabilities: 19 Accounts receivable 20 Inventory 21 Prepaid insurance 22 Accounts payable 1 Income Statement Balance Sheet Graded Worksheet + Calculation Mode: Automatic Workbook Statistics File Home Insert Draw Formulas Data Review View Help A1 fx Accessibility tab summary: The income statement for Innovation Electronics Incorporated is prese Calculation Mode: Automatic Workbook Statistics