CES Condensed financial data of Pharoah Company follow. Pharoah Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 177,760 Accounts receivable 193,160 Inventory 247,500 Prepaid expenses 62,480 Long-term investments 303,600 Plant assets 627,000 Accumulated depreciation (110,000) Total $1,501,500 Liabilities and Stockholders' Equity Accounts payable $ 224,400 Accrued expenses payable 36,300 Bonds payable 242,000 Common stock 484,000 Retained earnings 514,800 Total $1,501,500 2021 $ 106,480 83,600 226,270 57,200 239,800 533,500 (114,400) $1,132,450 ady $ 148,060 46,200 321,200 385,000 231,990 $1,132,450 $854,612 Pharoah Company Income Statement Data For the Year Ended December 31, 2022 Sales revenue Less: Cost of goods sold $298,012 Operating expenses, excluding depreciation 27,302 Depreciation expense 102,300 Income tax expense 60,016 Interest expense 10,406 Loss on disposal of plant assets 16,500 Net Income 514,536 $ 340,076 MacBook Pro Total $1.501,500 $1,132.450 $854,612 Pharoah Company Income Statement Data For the Year Ended December 31, 2022 Sales revenue Less Cost of goods sold $298,012 Operating expenses, excluding depreciation 27,302 Depreciation expense 102,300 Income tax expense 60,016 Interest expense 10.406 Loss on disposal of plant assets 16,500 Net income 514,536 $340,076 Additional information: 1. New plant assets costing $220,000 were purchased for cash during the year 2. old blant assets having an original cost of $126.500 and accumulated depreciation of $106,700 were sold for $3,300 cash, 4. A cash dividend of $57,266 was declared and paid during the year. Prepare a statement of cash flows using the Indirect method (Show amounts that decrease cash flow with other sign .g. 15,000 or in wenthesis a.. Pharoah Company Statement of Cath Flows Adjustments to reconcile net income to MacBook Pro Q 3 A 2 3 $ 4 % 5 6 7 00. 9 0 W E R T Y U 1 0 S D F G H J L C V > B Z M. 2 End Time: 11:59 PM / Remaining: 703 min CES Pharoah Company Statement of Cash Flows Adjustments to reconcile net income to udy e MacBook Pro ES udy. Click if you would like to Show Work for this question: Open Show Work MacBook Pro