The $2023$ and $2022$ balance sheets of Walker Corporation follow. The $2023$ income statement is also provided. Walker had no noncash investing and

financing transactions during $2023.$ During the year, the company sold equipment for $$15,400,$ which had originally cost $$12,900$ and had a book value of

$$11,300.$ The company did not issue any notes payable during the year but did issue common stock for $$37,000.$ The company purchased plant assets

and long$-$term investments with cash.

View the income statement.

View the balance sheets.

Read the requirements. Walker Corporation

Income Statement

For the Year Ended December $31,2023$

Sales revenues $$341,000$

Less: Cost of goods sold $72,000$

Gross profit $$269,000$

Less operating expenses:

Salaries and wages expense $$25,500$

Depreciation expense $5,200$

Other operating expenses $13,500$

Total operating expenses $$44,200$

Operating income $$224,800$

Plus other income and less other expenses:

Interest expense $$9,200$

Gain on sale of PP&E $4,100$

Total other income and expenses $5,100$

Income before income taxes $$219,700$

Less: Income tax expense $36,500$

Net income $$183,200$

Walker Corporation

Comparative Balance Sheets

December $31,2023$ and $2022$

Assets $20232022$

Current assets:

Cash $$49,000$ $$21,000$

Accounts receivable $32,00029,800$

Inventory $86,00093,200$

Prepaid insurance $3,2002,400$

Total current assets $$170,200$ $$146,400$

Property, plant, and equipment $158,000137,000$

Less: Accumulated depreciation $(30,700)(27,100)$

Investments $116,0000$

Total assets $$413,500$ $$256,300$

Liabilities

Current liabilities:

Accounts payable $$33,300$ $$36,400$

Wages payable $3,3007,700$

Interest payable $2,7000$

Income taxes payable $5,7000$

Other accrued expenses payable $18,70022,300$

Total current liablities $$63,700$ $$66,400$

Long$-$term liabilities $73,000112,000$

Total liabilities $$136,700$ $$178,400$

Stockholders' equity

Common stock $108,00071,000$

Retained earnings $168,8006,900$

Total stockholders' equity $$276,800$ $$77,900$

TTotal liabilities and equity $$413,500$ $$256,300$

Prepare the statement of cash flows for WalkerWalker Corporation for $2023$ using the indirect method.