Current Attempt in Progress Condensed financial data of Cullumber Company follow. Cullumber Company Comparative Balance Sheets December 31 Assets 2022 Cash $100,000 Accounts receivable 91,000 Inventory 111,000 Prepaid expenses 29,000 Long-term investments 139,000 Plant assets 274,000 Accumulated depreciation (46,000) Total $698,000 2021 $47,000 32,000 101,000 25,000 113,000 241,000 (51,000) $508,000 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $111.000 16,000 110,000 219,000 242,000 $698,000 $67,000 17,000 149,000 174,000 101,000 $508,000 Cullumber Company $391,000 Cullumber Company Income Statement For the Year Ended December 31, 2022 Sales revenue Less: Cost of goods sold $134,000 Operating expenses, excluding depreciation 11,000 Depreciation expense 31,000 Income tax expense 26,000 Interest expense 4,000 Loss on disposal of plant assets 7,500 Net income 213,500 $177,500 Additional information: 1. 2. New plant assets costing $79,000 were purchased for cash during the year. Old plant assets having an original cost of $46,000 and accumulated depreciation of $ Bonds payable matured and were paid off at face value for cash. A cash dividend of $36,500 was declared and paid during the year. 3. 4. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash in parenthesise.g. (15,000).) Cullumber Company Statement of Cash Flows Total $698,000 $508,000 $391.000 Cullumber Company Income Statement For the Year Ended December 31, 2022 Sales revenue Less: Cost of goods sold $134.000 Operating expenses, excluding depreciation 11,000 Depreciation expense 31,000 Income tax expense 26,000 Interest expense 4.000 Loss on disposal of plant assets 7.500 Net income 213,500 $177.500 Additional information: 1. 2. New plant assets costing $79.000 were purchased for cash during the year. Old plant assets having an original cost of $46,000 and accumulated depreciation of $36.000 were sold for $2,500 cash. Bonds payable matured and were paid off at face value for cash. A cash dividend of $36,500 was declared and paid during the year, 3. 4. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-signes. -15,000 or in parenthesis eg. (15,000).) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - signes. -15,000 or in parenthesis eg (15,000).) Cullumber Company Statement of Cash Flows Adjustments to reconcile net income to >> >