Short Problems 17. The income statement for 2022 and comparative balance sheets of Indian River Boutique for 2021 and 2022 appear below. Dividends totaling $51,200 were paid during the year. December 31 Assets Sero 2022 2021 Cash 56,800 58,300 Accounts receivable 14,500 12,200 Merchandise inventories 24,600 30,000 Equipment 110,000 98,700 Accumulated depreciation (35,600) (28,400) Stren Total assets 170,300 170,800 Liabilities and Stockholders' Equity Accounts payable 31,500 34,700 Income taxes payable 8,900 7,400 Long-term notes payable 46,700 52,300 Common stock, $0.50 par 37,600 32, 100 Retained earnings 45,600 44,300 Total liabilities and stockholders' equity 170,300 170,800 Sales 389,000 Cost of goods sold 178,000 Depreciation expense 24,000 Interest expense 2,700 Other expenses 105,700 Gain on sale of equipment 10,600 Income taxes expense 28,700 Net income $52,500 Prepare the operating activities section of the 2022 statement of cash flows using the indirect method. You may omit the statement heading.19. The following information relates to Markley Mattresses for fiscal year 2021, the company's first year of operations: Units produced elling 003, I baisiof ingever 35,000 Units sold 29,750 Selling price per unit nugs. lol exellob asise di tion $50 Direct material per unit $9 Direct labor per unit $8 Variable manufacturing overhead per unit $3 Variable selling cost per unit $5 Annual fixed manufacturing overhead $280,000 Annual fixed selling and administrative expense $140,000 a. Prepare an income statement using variable costing. b Identify two differences between full costing and variable costing income statements