BBSR, Inc., formed from the merger of Bumpin Boots and Surf Rhythm) opened in January, 2023. The balance sheets and income statement are below. ASSETS 1/1/23 12/31/23 LIABILITIES & 1/1/23 12/31/23 EQUITY Cash 0 $ 89,000 Accounts 0 $ 8,000 Accounts 0 15,000 Payable Note Payable 0 25,000 Receivable Prepaid 0 4,000 Total Liabilities $ 33,000 Insurance Building 0 24,000 Common Stock 0 Equipment 15,000 Retained 100,000 11,000 Earnings Less: Acc. Dep. 0 (3,000) Total Equity 0 $ 111,000 Total Assets $144,000 Total Liabilities $144,000 & Equity Sales $ 30,000 Less: Operating Expenses, including depreciation (14,000) Net income $16,000 Additional Data 1) The equipment was purchased on January 1 for $15,000 with a useful life of 5 years, no salvage value, depreciated using the straight-line method. 2) The building was bought on December 31 with all cash for $24,000. 3) The note payable was signed on December 31 for $25,000, at 12% interest, principal and interest due and payable in five years. 4) Shareholders bought stock on January 1 for $100,000. A dividend was paid in July. Question 44 (40 points) Prepare the Statement of Cash Flows using the indirect method. NOTE: Your answer must be entered in below. Your scratch sheet may not be used as a substitute for entering the answer below. OPERATIONS: BBSR, INC. Statement of Cash Flows For the Year Ended December 31, 2023 Cash Provided (Used) by Operating Activities. INVESTING: Cash Provided (Used) from Investing Activities FINANCING: Cash Provided (Used) by Financing Activities.. NET INCREASE (DECREASE) IN CASH. Beginning Cash.. Ending Cash....... $ 89,000 11.