Condensed financial data of Blue Spruce Corp. follow. Blue Spruce Corp. Comparative Balance Sheets December 31 Assets 2022 2021 Cash $118,300 $47,700 Accounts receivable 91,000 33,900 Inventory 112,200 102,000 Prepaid expenses 29,700 26,000 Long-term investments 139,800 113,800 Plant assets 275,600 241,400 Accumulated depreciation (47,200) (52,400) Total $719,400 $512,400 Liabilities and Stockholders' Equity Accounts payable $111,800 $67,200 Accrued expenses payable 16,500 17,000 Bonds payable 111,800 149,800 Common stock 219,700 174,200 Retained earnings 259,600 104,200 Total $719,400 $512,400 Blue Spruce Corp. Income Statement For the Year Ended December 31, 2022 Sales revenue $393,000 Less: Cost of goods sold $134,900 Operating expenses, excluding depreciation 11,500 Depreciation expense 30,600 Income tax expense 26,400 Interest expense 4,800 Loss on disposal of plant assets 7,500 215,700 Net income $177,300 Additional information: 1. New plant assets costing $80,200 were purchased for cash during the year. 2. Old plant assets having an original cost of $46,000 and accumulated depreciation of $35,800 were sold for $2,700 cash. 3 Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $21,900 was declared and paid during the year. 5. Common stock was issued at par for cash. 6. There were no significant noncash transactions. 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).) Blue Spruce Corp. Statement of Cash Flows - Indirect Method Adjustments to reconcile net income to . $ + $