Prepare the statement of cash flows using the indirect method. The income statement for 2023 and the balance sheets for 2023 and 2022 are presented for Hall Industries.

Additional information follows:a. Sold plant asset for $4,200. The original cost of this plant asset was $10,400 and it had $9,700 of accumulated depreciation associated with it.b. Paid $4,500 on the bonds payable; issued $39,500 of new bonds payable.c. Declared and paid cash dividends of $33,100.d. Purchased new investment for $13,000. Paid cash.e. Purchased new equipment for $20,400. Paid cash.

RequirementPrepare a statement of cash flows for Hall Industries, Inc., for the year ended December 31, 2023, using the indirect method.

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123 4 5 6 7 8 9 10 11 12 13 14 Operating income 15 Plus other income and less other expenses: Interest expense Gain on sale of PP&E Total other income and expenses 19 Income before income taxes 20 Less: Income tax expense 21 Net income 22 117 16 67 17 Hall Industries, Inc. Income Statement For the Year Ended December 31, 2023 18 Sales revenues Less: Cost of goods sold Gross profit Less operating expenses: Salaries and wages expense Insurance expense Depreciation expense Other operating expenses Total operating expenses $ B 187,000 12,000 46,700 84,000 5,400 3,500 S S $ $ с 953,000 377,000 576,000 329,700 246,300 1,900 244,400 73,320 171,080