CRANE COMPANY

Comparative Balance Sheets

December $31$

CRANE COMPANY

Income Statement

For the Year Ended December $31,2022$

Additional data:

Depreciation expense was $$15,400.$

Dividends declared and paid were $$25,800.$

During the year, equipment was sold for $$8,600$ cash. This equipment originally cost $$18,000$ and had accumulated

depreciation of $$9,400$ at the time of sale.

Bonds were redeemed at their carrying value.

Common stock was issued at par for cash.

$($a$)$

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$.(15,000).)$