Assume the following selected income Assume the following selected income statement and balance sheet information for Larriet Inc.: Larriet Inc. Larriet Inc. Income Statement Balance Sheet Information Year Ended December 31, Year 5 (000's) (000's) December 31, 2023 2022 Sales revenue $385 Cash $40 $22 Cost of goods sold $224 Accounts receivable 34 39 Other operating expenses 135 Merchandise inventory 150 146 Depreciation expense 25 Prepaid expenses 3 2 Loss on sale of machinery 3 (387) Machinery 125 138 Net loss $2 Accumulated depreciation 55 42 Accounts payable 29 31 Dividends payable 1 5 Bonds payable 15 38 Common shares 208 150 Retained earnings 44 81 Additional information: Machinery costing $20 thousand was sold for cash. Machinery was purchased for cash. The change in retained earnings was caused by the net loss and the declaration of dividends. Required: Reconstruct the journal entry regarding the sale of the machinery. Reconstruct the entry regarding the purchase of machinery. Reconstruct the entry regarding the declaration of dividends. Reconstruct the entry regarding the payment of dividends. Prepare the statement of cash flows for the year ended December 31, Yeastatement and balance sheet information for Larriet Inc.: Larriet Inc. Larriet Inc. Income Statement Balance Sheet