Exercise 205 The comparative balance sheets for Windsor Company appear below: WINDSOR COMPANY Comparative Balance Sheet Assets Dec. 31, 2022 Dec. 31, 2021 Cash $38,900 $11,000 Accounts receivable 22,000 15,000 Inventory 30,100 19,600 Prepaid insurance 8,300 9,200 Stock investments -0- 17,000 Equipment 78,000 39,000 Accumulated depreciation equipment (18,700) (13,600) Total assets $158,600 $97,200 Liabilities and Stockholder's Equity Accounts payable $33,600 $8,200 Bonds payable 38,800 48,100 Common stock 40,500 22,100 Retained earnings 45,700 18,800 Total liabilities and stockholder's $158,600 $97,200 equity Additional information: 1. Net income for the year ending December 31, 2022, was $43,000. 2. Cash dividends of $14,300 were declared and paid during the year. 3. Stock investments on balance sheet that had a book value of $15,200 were sold for $10,600. 4. Sales for 2022 are $140,000. Prepare a statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show e.g.-15,000 or in parenthesis e.g. (15,000).) WINDSOR CORPORATION Statement of Cash Flows For the Year Ended December 31, 2022 - Cash Flows from Operating Activities 43,000 Net Income / (Loss) Adjustments to reconcile net income to Net Cash Provided by Operating Activities Loss on Sale of Stock Investments 43,000 Increase in Accounts Receivable 1