10:20 PM Sat 11 Feb 2 of 5 Question One: vle.iau.edu.sa Use the following balance sheet and income statement to prepare a statement of cash flow under the Indirect Method. Income Statement for 2022 Sales $ 100,000 Expense Cost of goods sold 40,000 Wages 5,000 Depreciation 7,000 Interest 500 Total expense $52,500 Income from continuing operations $47,500 Gain from sale of land 10,000 Pretax income 57,500 Provision for taxes 20,000 Net income 37,500 $8,500 Common dividends declared Balance Sheet for 2021 and 2022 Assets Current assets 2022 2021 -78% Open in... 10:20 PM Sat 11 Feb 78% SST Plagiarism Bb FIN 430-Group https://www.alax A Bright Future X Bb FIN 430-Group X About Us Home X Bb https://vle.iau.e X + C vle.iau.edu.sa B G 29 Balance Sheet for 2021 and 2022 2022 2021 Assets Current assets Cash $33,000 $9,000 Account receivable 10,000 9,000 Inventory 5,000 7,000 Total current assets 48,000 25,000 Non-current assets Land $35,000 $40,000 Gross plant and equipment 85,000 60,000 Less accumulated depreciation (16,000) (9,000) Net plant and equipment $69,000 $51,000 Goodwill 10,000 10,000 Total non-current assets 114,000 101,000 Total Assets $162,000 $126,000 Open in...