Behemoth Manufacturing makes and sells integrated circuit boards. At the end of $2023,$ the income statement and comparative balance sheet were prepared as shown below.

Behemoth Manufacturing

Balance Sheet

As at June $30$

$20232022$

Assets

Current Assets

Cash $$318,935$ $$127,600$

Accounts Receivable $$230,700$ $$254,800$

Merchandise Inventory $$515,400$ $$462,400$

Prepaid Expenses $$24,200$ $$24,200$

Total Current Assets $$1,089,235$ $$869,000$

Long$-$Term Assets

Land $$16,900$

Equipment $$353,500$ $$353,500$

Less: Accumulated Depreciation $$-102,600$ $$-90,500$

Total Long$-$Term Assets $$250,900$ $$279,900$

Total Assets $$1,340,135$ $$1,148,900$

Liabilities

Current Liabilities

Accounts Payable $$315,300$ $$326,400$

Notes Payable, Current Portion $$33,700$ $$29,200$

Total Current Liabilities $$349,000$ $$355,600$

Notes Payable, Long$-$Term Portion $$212,400$ $$183,200$

Total Liabilities $$561,400$ $$538,800$

Shareholders' Equity

Common Shares $$294,000$ $$253,000$

Retained Earnings $$484,735$ $$357,100$

Total Shareholders' Equity $$778,735$ $$610,100$

Total Liabilities and Equity $$1,340,135$ $$1,148,900$

Additional Information:

During $2023,$ land was sold for a loss of $$4,100.$ There was no purchase of equipment. The company did not pay off any amount of the notes payable.

Behemoth Manufacturing

Income Statement

For the Year Ended June $30,2023$

Sales $$2,546,000$

Cost of Goods Sold $$1,527,600$

Gross Profit $$1,018,400$

Operating Expenses

Depreciation Expense $$12,100$

Other Operating Expenses $$728,300$

Total Operating Expenses $$740,400$

Income from Operations $$278,000$

Other Income and Expenses

Loss on Sale of Land $$-4,100$

Income before Income Tax $$273,900$

Income Tax $$95,865$

Net Income $$178,035$

Prepare the cash flow statement using the indirect method.

Do not enter dollar signs or commas in the input boxes.

Use the negative sign for a decrease in cash.

Behemoth Manufacturing

Cash Flow Statement

For the Year Ended June $30,2023$

Cash Flow from Operating Activities

Net Income Answer

Adjustments to Reconcile Net Income to Cash

Depreciation Answer

Loss on Sale of Land Answer

Change in Operating Assets and Liabilities

Decrease in Accounts Receivable Answer

Increase in Merchandise Inventory Answer

Decrease in Accounts Payable Answer

Net Cash Provided $($Used$)$ by Operating Activities Answer

Cash Flow from Investing Activities

Sale of Land Answer

Net Cash Provided $($Used$)$ by Investing Activities Answer

Cash Flow from Financing Activities

Proceeds from Notes Payable Answer

Payment of Cash Dividend Answer

Issue of Common Shares Answer

Net Cash Provided $($Used$)$ by Financing Activities Answer

Net Increase $($Decrease$)$ in Cash Answer

Cash at the Beginning of the Year Answer

Cash at the End of the Year