Prepare statement of cash flows using the indirect method.

	A	B	C
1	Hartmann Industries, Inc.
2	Income Statement
3	For the Year Ended December 31, 2021
4	Sales revenues		$950,000
5	Less: Cost of goods sold		382,000
6	Gross profit		$568,000
7	Less operating expenses:
8	Salaries and wages expense	$189,000
9	Insurance expense	11,500
10	Depreciation expense	50,100
11	Other operating expenses	82,000
12		Total operating expenses		332,600
13	Operating income		$235,400
14	Plus other income and less other expenses:
15	Interest expense	$5,900
16	Gain on sale of PP&E	3,000
17		Total other income and expenses		2,900
18	Income before income taxes		$232,500
19	Less: Income tax expense		69,750
20	Net income		$162,750

Additional information follows:

a.	Sold plant asset for $ 4 comma 600$4,600. The original cost of this plant asset was $ 10 comma 700$10,700 and it had $ 9 comma 100$9,100 of accumulated depreciation associated with it.
b.	Paid $ 5 comma 500$5,500 on the bonds payable; issued $ 47 comma 500$47,500 of new bonds payable.
c.	Declared and paid cash dividends of $ 34 comma 000$34,000.
d.	Purchased new investment for $ 7 comma 000$7,000. Paid cash.
e.	Purchased new equipment for $ 40 comma 700$40,700. Paid cash.

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