Problem $12-18$A $($Algo$)$ Using financial statements to prepare a statement of cash flows$-$Indirect method LO $12-1,12-3,12-4$

The comparative balance sheets and income statements for Gypsy Company follow.

$\backslash$table$[[$Balance Sheets As of December $31,],[$Assets$,$Year'$2,$Year $1,,],[$Cash$,$$$23,255,$$$2,766,,],[$Accounts receivable,$1,880,1,128,,],[$Inventory$,6,487,6,082,,],[$Equipment$,19,659,41,989,,],[$Accumulated depreciation$-$equipment,$(7,844),(15,785),,],[$Land$,22,845,11,045,,],[$Total assets,$$66,282,$$$47,225,,],[$Liabilities and stockholders' equity,,,,$],[$Accounts payable $($inventory$),$$$2,483,$$$4,011,,],[$Long$-$term debt,$2,752,6,291,,],[$Common stock,$24,500,9,500,,],[$Retained earnings,$36,547,27,423,,],[$Total liabilities and stockholders' equity,$$66,282,$$$47,225,,]]$

Liabilities and stockholders' equity Accounts payable $($inventory$)$ $$2,483$ $$4,011$ Long$-$term debt $2,7526,291$ Common stock $24,5009,500$ Retained earnings $36,54727,423$ Total liabilities and stockholders' equity $$66,282$$$47,225$

$\backslash$table$[[$Income Statement for the Year Ended December,$31,$ Year $2],[$Sales revenue,$$34,760$