Prepare a statement of cash flows using the indirect method. The income statement for $2023$ and the balance sheets for $2023$ and $2022$ are presented for Harper $$Industries$,$ Inc.

Requirement

Prepare a statement of cash flows for Harper $$Industries$,$ Inc., for the year ended December$31,2023,$ using the indirect method.

Prepare the statement one section at a time. $($Use parentheses or a minus sign for numbers to be subtracted and for net cash$$ outflows.$)$

Harper Industries, Inc.

Statement of Cash Flows $($Indirect Method$)$

For the Year Ended December $31,2023$Harper Industries, Inc.

Comparative Balance Sheets

December $31,2023$ and $2022$

Liabilities

Current liabilities:

Stockholders' equity

Common stock

Retained earnings

Total stockholders' equity

Total liabilities and equity

$=$$quad$1,448,000=$$$1,197,500$