Additional Information for 2022:

1. Land of $700,000 was obtained by issuing a note payable to the seller.
2. Buildings of $860,000 and equipment of $32,600 were purchased using cash.
3. Monthly payments during the year reduced notes payable by $8,563.
4. Issued common stock for $1,200,000.
5. Purchased 12,000 shares of treasury stock for $25 per share.
6. Sold 6,000 shares of treasury stock at $26 per share.
7. Declared and paid a cash dividend of $13,800.

Prepare the statement of cash flows for the year ended December 31, 2022, using the indirect method.

The income statement, balance sheets, and additional information for Great Adventures, Inc., are provided below. GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 $185,370 Net revenues: Expenses: $39,500 63,600 18,750 9,279 15,500 146,629 $ 38,741 GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 Increase (I) or Decrease (D) 2022 $ 199,028 (I) $ 256,928 49,400 49,400 (I) 9,000 9,000 (1) 4,200 (D) 1,100 700,000 700,000 (I) 860,000 82,600 860,000 (1) 32,600 (I) 18,750 (1) (27,250) $1,931,778 $ 29,600 $ 26,400 (I) 850 15,500 27,000 1,300 (1) 27,000 (1) 691,437 (I) 723,437 140,000 1,086,000 59,391 (150,000) 120,000 (1) 1,086,000 (I) 24,941 (I) (150,000) (1) $1,931,778 Cost of goods sold Operating expenses Depreciation expense Interest expense Income tax expense Total expenses Net income Assets Current assets: Cash Accounts receivable Inventory Other current assets Long-term assets: Land Buildings Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Other current liabilities Notes payable (current and long-term) Stockholders' equity: Common stock Paid-in capital Retained earnings Treasury stock Total liabilities and stockholders' equity 2021 $ 57,900 0 0 5,300 0 0 50,000 (8,500) $111,500 $ 3,200 850 14, 200 0 32,000 20,000 0 34,450 0 $111,500 GREAT ADVENTURES, INC. Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities: Net cash flow from operating activities Cash Flows from Investing Activities Net cash flow from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Cash at the beginning of the period Cash at the end of the period Note: Noncash Activities