Prepare statement of cash flows using the indirect method the year 2022.
Libby Inc.
Income statement
For the year ended on December 31, 2022
Sales		$100,000
Cost of Goods Sold	$61,000
Depreciation	5,000
Loss on sale of land	1,000
Supplies Expense	8,000
Salaries Expense	10,000
Income Tax Expense	3,000
Total Expense		$88,000
Net income		12,000
Libby Inc.
Balance Sheet
December 31
	2022	2021
Asset
Cash	$44,000	$18,000
Accounts Receivable	27,000	29,000
Inventory	30,000	36,000
Land	50,000	65,000
Equipment	60,000	37,000
Buildings	100,000	0
Less Accumulated Depreciation	(35,000)	(30,000)
Total Assets	276,000	155,000
Accounts Payable	$25,000	$22,000
Salaries Payable	800	1,000
Notes Payable, Long Term	138,000	48,000
Common Stock	80,000	60,000
Retained Earnings	32,200	24,000
Total Liab. and SE.	276,000	155,000

Additional Information

1. Bought equipment for cash, $23,000.

2. Sold Land costing $15,000 only for $14,000 with loss on sale of land $1,000

3. Paid $10,000 on long term note payable.

4. Issue new shares of common stock for $20,000.

5. Declared and paid a $3,800 dividend in cash.

6. Purchased a building by signing a notes payable for $100,000

What is cash flows from:
Operating activities

Investing activities

Financing activities

Non-cash activities