Prepare the statement of cash flows, using the indirect method. (Show amounts that decrease co Additional information regarding 2021: 1. Prepaid expenses and property tax payable relate to operating expenses. 2. New equipment costing $82,000 was purchased for $23,700 cash and a $58,300 long-term bank loan payable. 3. Old equipment having an original cost of $s7,500 was sold for $1,700. 4. Accounts payable relate to inventory suppliers. 5. Some of the bank loan was repaid during the year. 6. A dividend was paid during the year. 7. Operating expenses include $46,600 of depreciation expense and a $4,700 loss on disposal of equipment. SANDHILL, INC. Statement of Income Year Ended December 31, 2021 Sales $571,200 Cost of goods sold Gross profit 189,300381,900116,480265,420 Other income and expenses Unrealized gain on trading investments $16,000 Interest expense Income before income tax 276,640(4,780) Income tax expense 43,000 Additional information regarding 2021: 1. Prepaid expenses and property tax payable relate to operating expenses. 2. New equipment costing $82,000 was purchased for $23,700 cash and a $58,300 long-term bank loan payable. 3. Old equipment having an original cost of $57,500 was sold for $1,700. 4. Accounts payable relate to inventory suppliers. 5. Some of the bank loan was repaid during the year. 6. A dividend was paid during the year. 7. Operating expenses include $46,600 of depreciation expense and a $4,700 loss on disposal of equipment. 8. Common shares were issued for $42,000 cash during the year and some common shares were bought back and retired at t cost they were originally issued at