Please answer question #11, SHOWING ALL WORK ACCORDINGLY ON ALL SECTIONS. Thank you!

Condensed financial data of Ivanhoe Company appear below: IVANHOE COMPANY Comparative Balance Sheet December 31 Assets 2022 2021 Cash $65,700 $53,000 Accounts receivable 87,000 52,000 Inventories 122,000 130,000 Prepaid expenses 16,900 29,000 Investments 83,000 68,000 Plant assets 317,000 258,000 Accumulated depreciation (75,000) (64,000) Total $616,600 $526,000 Liabilities and Stockholder's Equity Accounts payable $92,000 $83,000 Accrued expenses payable 20,700 24,300 Bonds payable 136,000 152,000 Common stock 249,500 172,500 Retained earnings 118,400 94,200 Total $616,600 $526,000 IVANHOE COMPANY Income Statement For the Year Ended December 31, 2022 Sales $486,000 Less: Cost of goods sold $296,000 Operating expenses (exculding depreciation) 66,500 Depreciation expense 17,900 Income taxes 16,200 Interest expense 13,100 Loss on disposal of plant assets 8,300 418,000 Net income $68,000 Additional information: 1. New plant assets costing $89,000 were purchased for cash in 2022. 2. Old plant assets costing $28,000 were sold for $5,000 cash when book value was $14,000, Bonds with a face value of $24,000 were converted into $24,000 of common stock. 3. 4. A cash dividend of $26,000 was declared and paid during the year. Accounts payable pertain to merchandise purchases. 5. 1- Prepare a statement of cash flows for the year using the direct method. (Show amounts that decrease cash flow with either a sign e.g. -15,000 or in parenthesise.g. (15,000).) IVANHOE COMI Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities $ V $ > >