Condensed financial data of Indigo Corporation follow. Indigo Corporation Comparative Balance Sheets December 31 Assets 2022 2021 Cash $210,080 $ 125,840 Accounts receivable 228,280 98,800 Inventory 292,500 267,410 Prepaid expenses 73,840 67,600 Long-term investments 358,800 283,400 Plant assets 741,000 630,500 Accumulated depreciation (130,000 ) (135,200) Total $1,774,500 $1,338,350 Liabilities and Stockholders' Equity Accounts payable $265,200 $174,980 Accrued expenses payable 42,900 54,600 Bonds payable 286,000 379,600 Common stock 572,000 455,000 Retained earnings 608,400 274,170 Total $1,774,500 $1,338,350 Indigo Corporation Income Statement Data For the Year Ended December 31, 2022 Sales revenue Less: Cost of goods sold $1,009,996 $352,196 Operating expenses, excluding depreciation 32,266 Depreciation expense 120,900 Income tax expense 70,928 Interest expense 12,298 Loss on disposal of plant assets 19,500 608,088 Net income $401,908 Additional information: 1. New plant assets costing $260,000 were purchased for cash during the year. Old plant assets having an original cost of $149,500 and accumulated depreciation of $126,100 were sold for $3,900 cash. 2. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $67,678 was declared and paid during the year. Prepare a statement of cash flows using the indirect method. (ts that se cash flow with either a-sign-15,000 Adjustments to reconcile net income to Indigo Corporation Statement of Cash Flows