Dec. 31, 2021 Dec. 31, 2022 Assets Cash $ 28,000 Accounts receivable 18,000 Prepaid expenses 7,000 Inventory 25,000 Long-term investments -0- Equipment 60,000 Accumulated depreciation equipment (18,000) Total assets $120.000 Liabilities and Stockholders' Equity Accounts payable $ 25,000 Bonds payable 37,000 Common stock 40,000 Retained earnings 18,000 Total liabilities and stockholders' equity $120,000 $13,000 14,000 9,000 15,000 18,000 30,000 (14,000) $85,000 $ 7,000 45,000 23,000 10.000 $85.000 Additional information: 1. Net income for the year ending December 31, 2022, was $20,000. 2. Cash dividends of $12,000 were declared and paid during the year. 3. Long-term investments that had a book value of $18,000 were sold for $13,000. 4. Sales for 2022 are $120,000. Gallup Company Statement of Cash Flows Indirect Method For the Year Ended December 31, 2022 Cash flows from operating activities: Net income Adjustments to reconcile ner income to net cash provided by operating acovities: Add 20.000 Deduct: Cash flows from investing activities: Add Deduct Cash flows from financing activities: Add: Deduct Net cash provided by financing activities Net increase in cash Cash at beginning of period Cash at end of period