Condensed financial data of Blossom Company follow. Blossom Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 202,000 $ 121,000 Accounts receivable 219,500 95,000 Inventory 281,250 257,125 Prepaid expenses 71,000 65,000 Long-term investments 345,000 272,500 Plant assets 712,500 606,250 Accumulated depreciation (125,000 ) (130,000 ) Total $1,706,250 $1,286,875 Liabilities and Stockholders Equity Accounts payable $ 255,000 $ 168,250 Accrued expenses payable 41,250 52,500 Bonds payable 275,000 365,000 Common stock 550,000 437,500 Retained earnings 585,000 263,625 Total $1,706,250 $1,286,875 Blossom Company Income Statement Data For the Year Ended December 31, 2022 Sales revenue $971,150 Less: Cost of goods sold $338,650 Operating expenses, excluding depreciation 31,025 Depreciation expense 116,250 Income tax expense 68,200 Interest expense 11,825 Loss on disposal of plant assets 18,750 584,700 Net income $ 386,450 Additional information: 1. New plant assets costing $250,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $143,750 and accumulated depreciation of $121,250 were sold for $3,750 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $65,075 was declared and paid during the year. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

+ HW-Chapters 12 and 13 Question 1 of 4 A -/4 E Blossom Company Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash used by Operating Activities Depreciation Expense Increase in Accounts Receivable Increase in Inventory Increase in Accounts Payable Decrease in Accrued Expenses Payable Loss on Disposal of Plant Assets Increase in Prepaid Expenses Net Cash Provided by Operating Activities HW-Chapters 12 and 13 Question 1 of 4 > -14 VW SHOW Cash Flows from Investing Activities Purchase of Plant Assets S