BASSIE COMPANY Comparative Balance Sheet Dec. 31, 2023 Dec. 31. 2022 Assets $40,000 $12,000 5,000 8,000 11,000 7,000 Cash..... Accounts receivable... Inventory...... Prepaid expenses.. Buildings... Accumulated depreciation-buildings....... Total assets........ 2,000 3,000 20,000 20,000 _(3.000 _(2000) $75,000 $48,000 Liabilities and Stockholders' Equity $ 2,000 $ 4,000 13,000 14,000 Accounts payable.... Long-term note payable........ Common stock..... Retained earnings... Total liabilities and stockholders' equity.. 33,000 18,000 27,000 12,000 $75.000 $48.000 BASSIE COMPANY Income Statement For the Year Ended December 31, 2023 Sales (all on credit. $280,000 Expenses and gains: Cost of goods sold.. $199,000 Operating expenses, exclusive of depreciation.... 42,300 Depreciation expense. 1,000 Interest expense. 1,200 Gain on sale of land... (2,500) Income taxes... 9,000 Total expenses and loss...... 250,000 Net income........ $ 30.000 Additional Information: Cash dividends of $15,000 were paid during the year. Land costing $15,000 was acquired by the issuance of common stock. The land above was subsequently sold for $17,500 cash. Required: Prepare a statement of cash flows for the year ended December 31, 2023 using the indirect method