Prepare a statement of Cash Flows using Indirect Method Condensed financial data of Shamrock, Inc. follow. Shamrock,

   Prepare a statement of Cash Flows using Indirect Method

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Condensed financial data of Shamrock, Inc. follow. Shamrock, Inc. Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total Sales revenue Less: 2022 $ 242,400 263,400 337,500 85,200 414,000 327,000 855,000 727,500 (150,000) (156,000) $2,047,500 $1,544,250 2021 $ 145,200 114,000 308,550 78,000 $306,000 $ 201,900 49,500 63,000 330,000 438,000 660,000 525,000 702,000 316,350 $2,047,500 $1,544,250 Shamrock, Inc. Income Statement Data For the Year Ended December 31, 2022 Cost of goods sold Operating expenses, excluding depreciation Depreciation expense Income tax expense Interest expense Loss on disposal of plant assets Net income $406,380 37,230 139,500 81,840 14,190 22,500 $1,165,380 701,640 $463,740 Additional information: 1. New plant assets costing $300,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $172,500 and accumulated depreciation of $145,500 were sold for $4,500 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $78,090 was declared and paid during the year. Condensed financial data of Shamrock, Inc. follow. Shamrock, Inc. Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total Sales revenue Less: 2022 $ 242,400 263,400 337,500 85,200 414,000 327,000 855,000 727,500 (150,000) (156,000) $2,047,500 $1,544,250 2021 $ 145,200 114,000 308,550 78,000 $306,000 $ 201,900 49,500 63,000 330,000 438,000 660,000 525,000 702,000 316,350 $2,047,500 $1,544,250 Shamrock, Inc. Income Statement Data For the Year Ended December 31, 2022 Cost of goods sold Operating expenses, excluding depreciation Depreciation expense Income tax expense Interest expense Loss on disposal of plant assets Net income $406,380 37,230 139,500 81,840 14,190 22,500 $1,165,380 701,640 $463,740 Additional information: 1. New plant assets costing $300,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $172,500 and accumulated depreciation of $145,500 were sold for $4,500 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $78,090 was declared and paid during the year.