A Your answer is partially correct. Kingbird, Inc. reported the following information for 2022. Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable $1,344,000$902,400 Additional information: 1. Operating expenses include depreciation expense of $96,000. 2. Land was sold at its book value for cash. 3. Cash dividends of $204,000 were declared and paid in 2022. 4. Equipment with a cost of $398,400 was purchased for cash. Equipment with a cost of $122,400 and a book value of $86,400 was sold for $81,600 cash. 5. Bonds of $120,000 were redeemed at their face value for cash. 6. Common stock ( $1 par) of $408,000 was issued for cash. Use this information to 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).) Kingbird, Inc. Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2022 : Cash Flows from Operating Activities Net income $374400 Adjustments to reconcile net income to Net Cash Provided by Operating Activities * Depreciation Expense Increase in Accounts Receivable Increase in Accounts Receivable - . O. Increase in Inventory \begin{tabular}{|r|} \hline(96000) \\ \hline(105600) \\ \hline \end{tabular} Increase in Prepaid Expenses \begin{tabular}{|r|} \hline(4800) \\ \hline 7200 \\ \hline \end{tabular} Decrease in Accrued Expenses Payable ; (24000) Net Cash Provided by Operating Activities * \( \frac{-122400}{\hline 252000} \) Cash Flows from Investing Activities Sale of Land Sale of Equipment \begin{tabular}{rr} \hline 1 & 36000 \\ \hline 1 & 276000 \\ \hline \end{tabular} Purchase of Equipment Net Cash used by investing Activities Cash Flows from Financing Activities Payment of Dividends Redemption of Bonds Sale of Common Stock Net Cash Provided by Financing Activities : Purchase of Equipment Net Cash used by Investing Activities. Cash Flows from Financing Activities Payment of Dividends Redemption of Bonds Sale of Common Stock Net Cash Provided by Financing Activities : Net Increase in Cash Cash at Beginning of Period Cashat End of Period eTextbook and Media