Concord Corporation Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 59,840 $ 39,600 Accounts receivable 44,000 51,040 133,276 124,960 Inventory Prepaid expenses 13,446 18,480 Land 127,600 114,400 Buildings 176,000 176,000 Accumulated depreciation-buildings (52,800) (35,200) Equipment 198,000 136,400 Accumulated depreciation-equipment (39,600) (30,800) Total $659,762 $594,880 Liabilities and Stockholders' Equity $39.362 Accounts payable Bonds payable Common stock, $1 par $31,680 264,000 264,000 176,000 140,800 Retained earnings 180,400 158.400 Total $659,762 $594,880 Retained earnings 180,400 158,400 Total $659,762 $594,880 Additional information: 1. 2. 3. Operating expenses include depreciation expense of $36,960 ($17,600 of depreciation expense for buildings and $19,360 for equipment). Land was sold for cash at book value. Cash dividends of $10.560 were paid. Net income for 2022 was $32,560. Equipment was purchased for $80,960 cash. In addition, equipment costing $19,360 with a book value of $8,800 was sold for $7,040 cash 35 200 shares of $1 par value common stock were issued in exchange for land with a fair value of $35,200. 4, 5. 6. Prepare a statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis es. (15,000).) Prepare a statement of cash flows for the year ended December 31, 2022 using the indirect method. (Show amounts that decrease cash flow with either a - signes. -15,000 or in parenthesis es. (15,0001) Concord Corporation Statement of Cash Flows Adjustments to reconcile net income to $ > >