Prepare a statement of cash flows for $2022$ using the indirect method

Additional information:

$1.$ Net income for $2022$ was $$101,000.$

$2.$ Depreciation expense was $$32,000.$

$3.$ Cash dividends of $$38,500$ were declared and paid.

$4.$ Bonds payable with a carrying value of $$55,000$ were redeemed for $$55,000$ cash.

$5.$ Common stock was issued at par

$6.$ No equipment was sold during $2022.$

$7.$ Land was sold for its book value.

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The following are comparative balance sheets for Crane Company. Crane Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $72,500 $32,500 Accounts receivable 85,500 70,500 Inventory 169,500 186,500 Land 72,000 100,000 Equipment 259,000 199,000 Accumulated depreciation-equipment (65,500) (33,500) Total $593,000 $555,000 Liabilities and Stockholders' Equity Accounts payable $35,000 $46,500 Bonds payable 148,000 203,000 Common stock ($1 par) 214,000 172,000 Retained earnings 196,000 133,500 Total $593,000 $555,000 Additional information The following are comparative balance sheets for Crane Company. Crane Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $72,500 $32,500 Accounts receivable 85,500 70,500 Inventory 169,500 186,500 Land 72,000 100,000 Equipment 259,000 199,000 Accumulated depreciation-equipment (65,500) (33,500) Total $593,000 $555,000 Liabilities and Stockholders' Equity Accounts payable $35,000 $46,500 Bonds payable 148,000 203,000 Common stock ($1 par) 214,000 172,000 Retained earnings 196,000 133,500 Total $593,000 $555,000 Additional information