Prepare Statement of cash flows by Indirect Method with data below

Balance Sheet December 31, 2021 2020 $56,989 37,457 Cash and cash equivalents Accounts receivables, net Inventory Prepaid expenses Total current assets $91,336 33,624 55,032 5,840 185,832 58,777 5,719 158,942 180,014 Investments Property, plant and equipment, net Goodwill and trademarks Total assets 263,218 $807,824 205,335 178,750 267,344 $810,371 Accounts payable Dividends payable Accrued Liabilities Bank loans Industrial development bonds Total liabilities $104,275 4,263 42,381 32,000 7,500 190,419 $104,130 3,659 32,903 92,000 7,500 240,192 Common Stock Retained Earnings Total stockholders' equity 441,124 176,281 617,405 421,124 149,055 570,179 Total liabilities & stockholders' equity $807,824 $810,371 Statement of Earnings For the year ended December 31, 2021 2020 Net sales Cost of goods sold Gross margin Selling, marketing and administrative expenses Impairment loss Depreciation Gain on sale of equipment Earnings before income taxes Provision for income taxes Net income $487,739 $420,110 (299,156) (244,501) 188,583 175,609 (77,956) (69,241) (4,126) (14,690) (11,680) 21,840 113,651 94,688 (36,425) (30,514) $77,226 $64,174 A/R: Bad debt expense of $2000 is included in selling, marketing, and administrative expenses. Only $1200 of A/R was determined to be uncollectible in 2021. Inventory: Inventory is stated at cost, not to exceed market. The cost of substantially all of the Company's inventory has been determined by the last-in, first out (LIFO) method. The excess of replacement cost over LIFO cost approximates $16,580 and $5,190 at December 31, 2021 and 2020, respectively. Investments: Investments are classified as held-to-maturity securities. The company did not purchase any investments in 2021. Property, plant and equipment: Depreciation is computed for financial reporting purposes by use of the straight-line method. The company purchased $37,020 in equipment during 2021. Intangible assets: Intangible assets consist of goodwill and trademarks. All intangible assets have been assessed by management to have indefinite lives because they are expected to generate cash flows indefinitely