During 2023, Nettle Clothing had the following other transactions:

1. Sold land of $79,000 to another company.

2. Issued 200,000 shares of common stock for $80 per share. Total proceeds of $16,000.

3. Sold equipment of $36,000 with accumulated depreciation of $10,000.

4. Issued debt of $10,000.

5. Bought new equipment for $65,000.

6. Declared and paid a cash dividend during the year of $12,000.

Prepare Nettle Clothings statement of cash flows using the direct method.

Problem \#2 Statement of Cash Flow, Direct Method The Nettle Clothing Company prepared the following comparative balance sheet for 2023 and 2022 and income statement for 2023 : Nettle Clothing Company Comparative Balance Sheet (in 000's) December 31, 2023 and December 31, 2022 Nettle Clothing Company Income Statement (in 000's) For the Year Ended December 31, 2023