Concord Corporation has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to have prepared is a statement of cash flows. Financial statements of Concord Corporation for 2022 and 2021 are provided below. BALANCE SHEETS 12/31/22 Cash $407000 Accounts receivable 361000 Inventory 383000 Property, plant and equipment $606000 Less accumulated depreciation (318000) 288000 $1439000 12/31/21 $ 194000 217000 478000 $962000 (305000) 657000 $1546000 Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $ 176000 351000 362000 215000 335000 $1439000 $ 95000 391000 600000 215000 245000 $1546000 INCOME STATEMENT For the Year Ended December 31, 2022 Sales revenue Cost of sales Gross profit Selling expenses $598000 Administrative expenses 193000 Income from operations Interest expense $8400000 7151000 1249000 791000 458000 73000 Income before taxes Income taxes Net income 385000 98000 $ 287000 The following additional data were provided: 1. Dividends for the year 2022 were $197000. 2. During the year, equipment was sold for $240000. This equipment cost $350000 originally and had a book value of $288000 at the time of sale. The loss on sale was incorrectly charged to cost of sales. 3. All depreciation expense is in the selling expense category. The net cash provided (used) by financing activities is O $(435000). O $48000. O $197000. O $(245000)