Prepare a statement of cash flows using the indirect method.

Presented here are the financial statements of Coronado Company. CORONADO COMPANY Income Statement For the Year Ended December 31, 2022 Sales revenue Cost of goods sold Gross profit Selling expenses Administrative expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $241,900 64,900177,000 $18,150 40,70024,050 3,600 37,100 7,420 $29,680 Additional data: 1. Depreciation expense was $17,400. 2. Dividends declared and paid were $20,980. 3. During the year, equipment was sold for $6,800 cash. This equipment originally cost $17,400 and had accumulated depreciation of $10,600 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash