Do It! Review 12-02b Waterway Industries reported the following information for 2022. Waterway Industries Comparative Balance Sheets December 31 Assets Cash Accounts receivable 2022 $171,100 179,800 127,600 17,400 159,500 580,000 (60,900) 530,700 (81,200) $1,624,000 Change Increase/Decrease $66,700 Increase 116,000 Increase 127,600 Increase 5,800 Increase 43,500 Decrease -0- 2021 $104,400 63,800 -0- 11,600 203,000 580,000 (40,600 ) 197,200 (29,000) $1,090,400 Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Totals Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock ($1 par) Retained earnings Totals 20,300 Increase 333,500 Increase 52,200 Increase $124,700 0 290,000 667,000 542,300 $1,624,000 $116,000 29,000 435,000 174,000 336,400 $1,090,400 $8,700 Increase 29,000 Decrease 145,000 Decrease 493,000 Increase 205,900 Increase Waterway Industries Income Statement For the Year Ended December 31, 2022 Sales revenue $2,728,900 Cost of goods sold $1,377,500 Operating expenses 669,900 Interest expense 34,800 Loss on disposal of equipment 5,800 2,088,000 Income before income taxes 640,900 Income tax expense 188,500 Net income $452,400 Additional information: 1. Operating expenses include depreciation expense of $116,000. 2. Land was sold at its book value for cash. 3. Cash dividends of $246,500 were declared and paid in 2022. 4. Equipment with a cost of $481,400 was purchased for cash. Equipment with a cost of $147,900 and a book value of $104,400 was sold for $98,600 cash. 5. Bonds of $145,000 were redeemed at their face value for cash. 6. Common stock ($1 par) of $493,000 was issued for cash. Use this information to 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).) Use this information to 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. (15,000).) Waterway Industries Statement of Cash Flows-Indirect Method $ Adjustments to reconcile net income to $