Required: Based on the information below, prepare a Statement of Cash in good form. Prepare the Statement of Cash for December 31, 2022. Identify if you are preparing the Operating Section in Direct or Indirect method. Wallace Manufacturing, Inc. Income Statement For Year Ended December 31, 2022 RevenuesCostofGoodsSoldGrossProfit649,000420,000229,000 Operating Expenses: Wage and Salary Expense 121,000 Depreciation Expense 43,000 Office Expense 25,000 Insurance Expense Total Operating Expense 10,000199,000 Operating Income (Loss) 30,000 Other Income \& Expense Gain on Equipment Sales 5,000 Income Before Interest \& Taxes 35,000 Interest Expense 2,000 Income Tax Expense 8,000 Net Income 25,000 Additional Information and Notes: * During 2022, Smith Manufacturing sold equipment with an original cost of $50,000 and a gain of $5,000. * Bonds were sold late in late December 2022. The Bonds had a face value of $30,000 and were sold at a $4,000 discount. No interest was paid or accrued on these bonds in 2022. * 5,000 shares of common stock were sold in 2022