Blossom Company

Income Statement

For the Year Ended December $31,2022$

Sales revenue $$938,000$

Cost of goods sold $$479,680$

Operating expenses $$228,860$

interest expense $$11,980$

Loss on disposal of plant assets $$2,000$ $$722,520$

$---------$

Income before income taxes $$215,480$

Income tax expense $$64,780$

$-----$

Net income $$150,700$

Additional information:

$1.$ Operating expenses include depreciation expense of $$40,160.$

$2.$ Land was sold at its book value for cash.

$3.$ Cash dividends of $$85,680$ were declared and paid in $2022.$

$4.$ Equipment with a cost of $$166,220$ was purchased for cash. Equipment with a cost of $$51,060$ and a book value of $$35,860$ was sold for $$33,860$ cash.

$5.$ Bonds of $$50,290$ were redeemed at their face value for cash.

$6.$ Common stock $($$$1$ par$)$ of $$169,340$ was issued for cash.

use this information to prepare a statement of cash flows using the indirect method. $($Show ammounts that decrease cash flow with either a $-$ sign e$.$g$.-15,000$ or in parenthesis e$.$g$.(15,000).)$