December 31 Assets 2022 2021 Cash $116,800 $48,100 92.000 32.300 111,800 102,000 Accounts receivable Inventory Prepaid expenses Long-term investments 29.200 25.200 139.100 113,000 Plant assets 275,400 242.300 Accumulated depreciation (47.900 (51,400) Total $716,400 $511.500 $111,600 $68,000 16,300 17.100 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings 112,600 149.000 220,100 176,000 255,800 101.400 Total $716,400 $511.500 VAUGHN INC. Income Statement For the Year Ended December 31, 2022 Sales revenue $391.900 Less: $135,500 Cost of goods sold Operating expenses, excluding depreciation 11.100 Depreciation expense 33.200 Income tax expense 27.500 4.700 Interest expense 7.500 219.500 lors on disnin plant assets Additional information: 1 2. 3 New plant assets costing $80.200 were purchased for cash during the year. Old plant assets having an original cost of $47.100 and accumulated depreciation of $36,700 were sold for $2,900 cash Bonds payable matured and were paid off at face value for cash. A cash dividend of $18,000 was declared and paid during the year. Common stock was issued at par for cash. There were no significant noncash transactions 4 . 5 6 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 es. (15,000).) VAUGHN INC. Statement of Cash Flows Adjustments to reconcile net income to $ 700 AM 10/25/2021 O i tar