Hi all. Looking for help with the sections in red. Thank you!

Problem 12-08A Presented below are the financial statements of Pronghorn Corp. Pronghorn Corp Comparative Balance Sheets December 31 Assets 2022 Cash $ 49,000 Accounts receivable 28,000 Inventory 39,200 Property, plant, and equipment 84,000 Accumulated depreciation (44,800 ) Total $ 155,400 2021 $ 28,000 19,600 28,000 109,200 (33,600 ) $151,200 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $ 26,600 9,800 23,800 25,200 70,000 $155,400 $ 21,000 11,200 46,200 19,600 53,200 $151,200 $338,800 245,000 93,800 Pronghorn Corp Income Statement For the Year Ended December 31, 2022 Sales revenue Cost of goods sold Gross profit Selling expenses $25,200 Administrative expenses 8,400 Income from operations Interest expense Income before income taxes Income tax expense Net income 33,600 50,200 4,200 56,000 11,200 $ 44,800 Additional data: 1. Depreciation expense was $24.500. 2. Dividends declared and paid were $28,000. 3. During the year equipment was sold for $11,900 cash. This equipment cost $25,200 originally and had accumulated depreciation of $13,300 at the time of sale. Further analysis reveals the following. 1. Accounts payable pertain to merchandise suppliers. 2. All operating expenses except for depreciation were paid in cash. 3. All depreciation expense is in the selling expense category. 4. All sales and purchases are on account. Prepare a statement of cash flows for Pronghorn Corp using the direct method. (Show amounts in the investing and financi Pronghorn Corp Statement of Cash Flows For the Year Ended December 31, 2022 T Cash Flows from Operating Activities 44800 T For Income Taxes T Net Cash Provided by Operating Activities + 53900 T Cash Flows from Investing Activities T Sale of Equipment 11900 T Cash Flows from Financing Activities T Payment of Dividends : -28000 T Redemption of Bonds ) -22400 T Issuance of Common Stock . 5600 T Net Cash used by Financing Activities T 44800 T Net Increase in Cash + 44800 T Cash at Beginning of Period 28000 TCash at End of Period 49000