Condensed financial data of Vaughn Inc. follow. VAUGHN INC. Comparative Balance Sheets December 31 Assets 2022 2021 Cash $81,700 $49.300 Accounts receivable 87,900 OOD BE Iinventory 111,200 102 400 Prepaid expenses 29,300 27.900 Long-term investments 139,100 113,800 Plant assets 285,800 242.900 Accumulated depreciation (46.400) (48,20 0) Total $489,600 $526,100 Liabilities and Stockholders' Equity Accounts payable $104,900 $42.000 Accrued expenses payable 14,200 21,100 Bonds payable 113,100 149.300 Common stock 219,400 175,800 Retained earnings 235,000 117.900 Total $689,600 $526,100 VAUGHN INC. Income Statement For the Year Ended December 31, 2022 Sales revenue $387,100 Less: Cost of goods sold $134,000 Operating expenses, excluding depreciation 12.400 Depreciation expense 47.200 Income tax expense 27.70D Interest expense 4,500 Loss on disposal of plant assets 234,800 Net income $152,300 Additional information 1. New plant assets costing $100,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $57,100 and accumulated depreciation of $49,000 were sold for $1,300 cash. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $35,200 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 in parenthesis e g. (15,000))VAUGHN INC. Statement of Cash Flows V V Adjustments to reconcile net income to V V V V V V V V V V V V V V V V e Textbook and Media Save for Later Attempts: 0 of 3 used Submit