Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

VAUGHN COMPANY Comparative Balance Sheets December 31 Assets 2022 2021 Cash $36,900 $20,000 Accounts receivable 22,600 16,000 Inventory 29,400 21,500 59,500 77,300 Property, plant, and equipment Accumulated depreciation (32,000) (23,400) Total $116,400 $111,400 Liabilities and Stockholders' Equity Accounts payable $18,000 $ 14,500 Income taxes payable 7.300 8,100 Bonds payable 27,000 43,250 Common stock 17,200 13,400 Retained earnings 46,900 32,150 Total $116,400 $111,400 VAUGHN COMPANY Income Statement For the Year Ended December 31, 2022 $242,700 Sales revenue Cost of goods sold 176,100 Gross profit 66,600 Selling expenses $18,200 Administrative expenses 5,400 Operating expenses 23,600 Income from operations 43,000 2,800 Interest expense Income before income taxes 40,200 Income tax expense 8,040 Net income $32,160 Additional data: 1. 2. Depreciation expense was $16,900. Dividends declared and paid were $17,410. During the year, equipment was sold for $9,500 cash. This equipment originally cost $17,800 and had accumulated depreciation of $8,300 at the time of sale. 3. . 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash