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Problem 12-07A (Part Level Submission) Presented below are the financial statements of Concord Corporation. Assets Concord Corporation Comparative Balance Sheets December 31 2022 Cash $ 31,500 Accounts receivable 18.000 Inventory 25,200 Property, plant, and equipment 54,000 Accumulated depreciation (28,800) $99,900 2021 $ 18,000 12,600 18,000 70,200 21.600) $97,200 Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $ 17,100 6,300 15,300 16,200 45.000 $99,900 $ 13,500 7,200 29,700 12.600 34,200 $97,200 Concord Corporation Income Statement For the Year Ended December 31, 2022 Sales revenue $217,800 Cost of goods sold 157.500 Gross profit 60,300 Selling expenses $16.200 Administrative expenses 5.400 21,600 Income from operations 38,700 Interest expense 2.700 Income before income taxes 36.000 Income tax expense 2.200 Net income Additional data: 1. Depreciation expense was $15,750. 2. Dividends declared and paid were $18,000. 3. During the year equipment was sold for $7,650 cash. This equipment cost $16,200 originally and had accumulated depreciation of $8,550 at the time of sale. (a) (a) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) Concord Corporation Statement of Cash Flows Adjustments to reconcile net income to