Additional information:

1.		New plant assets costing $80,700 were purchased for cash during the year.
2.		Old plant assets having an original cost of $47,700 and accumulated depreciation of $37,500 were sold for $2,700 cash.
3.		Bonds payable matured and were paid off at face value for cash.
4.		A cash dividend of $16,700 was declared and paid during the year.
5.		Common stock was issued at par for cash.
6.		There were no significant noncash transactions.

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).)

Assets Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 2022 $119,000 93,000 113,000 29,100 139,500 274,800 (46,500) $721,900 2021 $47,100 32,400 102,400 25,700 114,700 241,800 (51,700) $512,400 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $111,500 16,400 114,000 219,100 260,900 $721,900 $67,600 17,100 149,300 174,200 104,200 $512,400 $391,400 Wildhorse Co. Income Statement For the Year Ended December 31, 2022 Sales revenue Less: Cost of goods sold $134,700 Operating expenses, excluding depreciation 12,000 Depreciation expense 32,300 Income tax expense 26,800 Long-term investments Plant assets Accumulated depreciation Total 139,500 274,800 (46,500) $721,900 114,700 241,800 (51,700) $512,400 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $111,500 16,400 114,000 219,100 260,900 $721,900 $67,600 17,100 149,300 174,200 104,200 $512,400 $391,400 Wildhorse Co. Income Statement For the Year Ended December 31, 2022 Sales revenue Less: Cost of goods sold $134,700 Operating expenses, excluding depreciation 12,000 Depreciation expense 32,300 Income tax expense 26,800 Interest expense 4,700 Loss on disposal of plant assets 7,500 Net income 218,000 $173,400