Please prepare a statement of cash flows using the indirect method.

Question 3 of 3 Assets Cash WATERWAY COMPANY Comparative Balance Sheets December 31 Question 3 of 3 WATERWAY COMPANY Income Statement For the Year Ended December 31, 2022 Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total 2022 $36,100 25,200 29,300 59,000 (31,200) $118,400 $21,300 7,200 26,200 18,400 45,300 $118,400 Additional data: 2021 $20,600 19,500 21,800 77,300 (23,800) $115,400 $ 17,000 8,400 42,400 13,000 34,600 $115,400 Sales revenue Cost of goods sold Gross profit , Selling expenses Administrative expenses Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income Additional data: $242,800 175,700 67,100 $18,600 4,900 23,500 43,600 2,200 41,400 8,280 $33,120 1, Depreciation expense was $16,200. 2. 3. 4. 5. Depreciation expense was $16,200. Dividends declared and paid were $22,420. During the year, equipment was sold for $9,500 cash. This equipment originally cost $18,300 and had accumulated depreciation of $8,800 at the time of sale. Bonds were redeemed at their carrying value. Common stock was issued at par for cash. your answer IS partially correct. Prepare a statement Of cash flows using the indirect method. (Show amounts that decrease cash now with either a - -15,000 or in parenthesis e.g. (15,000'.) WATERWAY COMPANY