I need help with the blank sections please as well as the final label (I don't think issuance of common stock is correct) Thank you!

WATERWAY COMPANY Comparative Balance Sheets December 31 Assets 2022 2021 Cash $38,000 $21,000 32.900 19,500 30,600 20,300 Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation 59.400 77,700 (30,000) (23,200) Total $130.900 $115,300 $28,600 $ 16,700 7,000 8,100 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total 27,600 32,000 18,600 13,700 49.100 44,800 $130.900 $115,300 WATERWAY COMPANY Income Statement For the Year Ended December 31, 2022 Sales revenue $242,500 Cost of goods sold 176,500 Gross profit 66,000 Selling expenses $17,550 Administrative expenses 5,850 23.400 Income from operations 42,600 Interest expense 2,900 Income before income taxes 39,700 Income before income taxes 39,700 Income tax expense 7,940 Net income $31,760 Additional data: 1 2. 3. Depreciation expense was $16,500. Dividends declared and paid were $27,460. During the year, equipment was sold for $8,600 cash. This equipment originally cost $18,300 and had accumulated depreciation of $9,700 at the time of sale. Bonds were redeemed at their carrying value. Common stock was issued at par for cash. 4. 5. Further analysis reveals the following. 1. 2. Accounts payable pertain to merchandise suppliers. All operating expenses except for depreciation were paid in cash. All depreciation expense is in the selling expense category. All sales and inventory purchases are on account. 3. 4 Your answer is partially correct. Prepare a statement of cash flows for Waterway Company using the direct method. (Show amounts that decrease cash flow with either a - signe.g.-15,000 or in parenthesis e.g. (15,000).) WATERWAY COMPANY Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Cash Receipts from Customers $ Less cash payments: To Suppliers $ For Income Taxes For Operating Expenses Issuance of Common Stock 3600 Net Cash Provided by Operating Activities 35360 Cash Flows from Investing Activities Sale of Equipment 8600 Net Cash Provided by Investing Activities 8600 Cash Flows from Financing Activities Payment of Dividends -27460