Exercise 12-10 Your answer is partially correct. Try again. Shown below are comparative balance sheets for Ivanhoe Company. Ivanhoe Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 142,800 Accounts receivable 184,800 Inventory 350,700 Land 168,000 Equipment 546,000 Accumulated depreciation-equipment (138,600 ) Total $1,253,700 Liabilities and Stockholders' Equity Accounts payable $ 81,900 Bonds payable 315,000 Common stock ($1 par) 453,600 Retained earnings 403,200 Total $1,253,700 2021 $ 46,200 159,600 396,900 210,000 420,000 (67,200) $1,165,500 $ 90,300 420,000 365,400 289,800 $1,165,500 Additional information: 1. Net income for 2022 was $195,300. 2. Depreciation expense was $71,400. 3. Cash dividends of $81,900 were declared and paid. 4. Bonds payable amounting to $105,000 were redeemed for cash $105,000. 5. Common stock was issued for $88,200 cash. 6. No equipment was sold during 2022. 7. Land was sold for its book value. Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -45, 000, or in parenthesis e.g. (45,000)). Ivanhoe Company Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities 195300 Net Income Adjustments to reconcile net income to Net Decrease in Cash T Increase in Accounts Receivable 71400 Decrease in Inventory Decrease in Inventory 25200 Decrease in Accounts Payable 46200 Net Income 8400 I 84000 Net Cash used by Operating Activities 279300 Cash Flows from Investing Activities Purchase of Equipment 126000 Sale of Land 42000 T Net Cash used by Investing Activities used by Investing ketvities 84000 2000 TCash Flows from Financing Activities T Redemption of Bonds 105000 T Issuance of Common Stock 88200 Payment of Cash Dividends 81900 T Net Cash used by Financing Activities 98700 Net Decrease in Cash 1 96600 Cash at Beginning of Period T 46200 Cash at End of Period 142800 Click if you would like to Show Work for this question: Open Show Work