Condensed financial data of Vaughn Inc. follow. VAUGHN INC. Comparative Balance Sheets December 31 Assets 2022 2021 Cash $84,300 $50,600 Accounts receivable 89,400 38.200 Inventory 111,800 102,000 Prepaid expenses 29,200 27,200 Long-term investments 139,100 113,000 Plant assets 285,300 241,100 Accumulated depreciation (47,900) (49,400) Total $691,200 $522.700 Liabilities and Stockholders' Equity Accounts payable $110,100 $65,900 Accrued expenses payable 16,300 21,500 Bonds payable 112,600 149.000 Common stock 220,100 176,000 Retained earnings 232,100 110,300 Total $691,200 $522,700 VAUGHN INC. Income Statement For the Year Ended December 31, 2022 Sales revenue $377,800 Less: Cost of goods sold $135,500 Operating expenses, excluding depreciation 11,100 Depreciation expense 47,600 Income tax expense 27,500 Interest expense 4,700 Loss on disposal of plant assets 6,900 233,300 Net income $144,500 1. 2. Additional information: New plant assets costing $101.500 were purchased for cash during the year. Old plant assets having an original cost of $57,300 and accumulated depreciation of $49,100 were sold for $1,300 cash 3. Bonds payable matured and were paid off at face value for cash. 4 A cash dividend of $22,700 was declared and paid during the year. 5. Common stock was issued at par for cash. 6. There were no significant noncash transactions. 3 Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a signeg.-15,000 or in parenthesis e.gs. (15,000)) VAUGHN INC. Statement of Cash Flows Adjustments to reconcile net income to v < > > >