CORONADO COMPANY Comparative Balance Sheets December 31 \begin{tabular}{lrr} Assets & 2022 & 2021 \\ Cash & $36,000 & $21,000 \\ Accounts receivable & 32,700 & 18,900 \\ Inventory & 30,100 & 20,100 \\ Property, plant, and equipment & 59,600 & 77,600 \\ Accumulated depreciation & (29,400) & (23,300) \\ \hline Total & $129,000 & $114,300 \\ \hline \end{tabular} Liabilities and Stockholders' Equity Accounts payable Income taxes payable $28,0007,200$16,8008,400 Bonds payable 26,70032,100 Common stock 17,70013,400 Retained earnings Total \begin{tabular}{c} $129,00049,400$114,30043,600 \\ \hline= \end{tabular} Additional data: 1. Depreciation expense was $17,500. 2. Dividends declared and paid were $25,960. 3. During the year, equipment was sold for $6,600cash. This equipment originally cost $18,000 and had accumulated depreciation of $11,400 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. Further analysis reveals the following. 1. Accounts payable pertain to merchandise suppliers. 2. All operating expenses except for depreciation were paid in cash. 3. All depreciation expense is in the selling expense category. 4. All sales and inventory purchases are on account. (a) Prepare a statement of cash flows for Coronado Company using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000).)