Condensed financial data of Sheffield Corp. follow. Sheffield Corp. Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory. Prepaid expenses Long-term investments Plant assets Accumulated depreciation. Total 2022 $106.200 2021 $47,400 33,900 91,600 111,800 29,400 140,500 274,200 242.100 (46,500) (52,900) $707.200 $512,300 101.500 25,500 114,800 Liabilities and Stockholders Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $67,100 17,300 149.300 220,000 174,700 248,800 103,900 $707,200 $512,300 $111.300 16,100 111,000 Sales revenue Less: Sheffield Corp. Income Statement For the Year Ended December 31, 2022 Cost of goods sold Operating expenses, excluding depreciation Depreciation expense Income tax expense Interest expense Loss on disposal of plant assets Net income $136,000 12.700 31,000 27.600 4,400 7,500 $392,900 219/200 $173,700 1. 2 3. 4. 5. New plant assets costing $79,900 were purchased for cash during the year. Old plant assets having an original cost of $47,800 and accumulated depreciation of $37,400 were sold for $2,900 cash. Bonds payable matured and were paid off at face value for cash. A cash dividend of $28,800 was declared and paid during the year. Common stock was issued at par for cash. 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 parenthesis eg. (15,000).)