Problem \#1 (20 minutes) - 1 Selected financial statement information is reported below for High Rise Co., a real estate developer. For the year ended December 31, 2022: Required Prepare a statement of cash flows for High Rise, assuming that all important cash flow activities are reflected in the information provided above. What financial problems do you see in examining the financial information presented for High Rise? What are some of the potential causes of these problems? The balance sheets for Clermont Company showed the following information. Additional information concerning transactions and events during 2022 are presented below. Additional data: 1. Equipment that cost $10,000 and was 50% depreciated was sold in 2022 . 2. Cash dividends were declared and paid during the year. 3. Land was purchased for cash. 4. Common stock was issued in exchange for cash. 5. Equipment that cost $32,000 was purchased for cash during 2022. Clermont Company's income statement for the year ending December 31, 2022 was as follows: Required Prepare a statement of cash flows using the indirect method