ES Exercise 12-07 Your answer is partially correct. Try again. The following information is available for Bridgeport Corp. for the year ended December 31, 2022. Beginning cash balance $ 74,250 Accounts payable decrease 6,105 Depreciation expense 267,300 Accounts receivable increase 13,530 Inventory increase 18,150 Net income 468,765 Cash received for sale of land at book value 57,750 Cash dividends paid 19,800 Income taxes payable increase 7,755 Cash used to purchase building 476,850 Cash used to purchase treasury stock 42,900 Cash received from issuing bonds 330,000 y Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with ei a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Bridgeport Corp. Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2022 Bridgeport Corp. Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income 1 468765 Adjustments to reconcile net income to Cash Flows from Operating Activities Depreciation Expense 267300 Increase in Accounts Receivable 13530 Increase in Inventory 18150 Decrease in Accounts Payable 6105 Increase in Income Taxes Payable 7755 237270 Cash Flows from Investing Activities 706035 237270 Cash Flows from Investing Activities 706035 X Net Cash used by Investing Activities Purchase of Building 476850 Sale of Land 57750 Net Cash used by Investing Activities 419100 Cash Flows from Financing Activities Issuance of Bonds 330000 Cash at End of Period 628485 LINK TO TEXT LINK TO VIDEO