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Consider the following income statement for the Hoffman Company for the year ended December 31, 2022 and the balance sheets for December 31, 2021 and

image text in transcribed Consider the following income statement for the Hoffman Company for the year ended December 31, 2022 and the balance sheets for December 31, 2021 and 2022. Based on these statements, construct the cash flow identity (discussed in section 2.5 of the text and PowerPoint notes) AND provide a brief analysis of what Hoffman's cash flows are indicating. Hoffman Company Balance Sheets as of December 31, 2021 and 2022 Hoffman Company 2022 Income Statement

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