ABC Company, Inc. is developing its annual financial statements at December 31, 2022. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized: Additional Data: a.) Bought equipment for cash $62,000. Sold equipment with original cost of $20,000, accumulated depreciation of $14,000, for $8,000 cash. b.) Paid $12,000 on the long-term note payable. c) Issued new shares of stock for $32,000 cash. d. Other expenses included depreciation, $24,000; wages, $26,000; taxes, $12,000; and other, $7,800. e.) No dividends were declared or paid. f.) Accounts payable includes only inventory purchases made on credit. Because there are no liability accounts relating to taxes or other expenses, assume that these expenses were fully paid in cash. Required: - Prepare the statement of cash flows for the year ended December 31,2022 , using the indirect method. - Based on the cash flow statement, write a short paragraph explaining the major sources and uses of cash by the ABC Company, Inc. during 2022