f Cleancarpet Vacuums sells vacuum accessories. At the end of 2023, the income statement and comparative balance sheet were prepared as shown below. Cleancarpet Vacuums Balance Sheet As at June 30 2023 2022 Assets Current Assets Cash $140,720 $56,300 Accounts Receivable $78,700 $80,700 Merchandise Inventory Prepaid Expenses Total Current Assets Noncurrent Assets $220,000 $194,600 $12,400 $12,400 $451,820 $344,000 Land $0 $40,000 Equipment $351,000 $351,000 Less: Accumulated Depreciation $-29,800 $-21,600 Total Noncurrent Assets $321,200 $369,400 Total Assets $773,020 $713,400 27 Less: Accumulated Depreciation Total Noncurrent Assets Total Assets $-29,800 $-21,600 $321,200 $369,400 $773,020 $713,400 Liabilities Current Liabilities Accounts Payable $49,900 $46,600 Notes Payable, Current Portion $9,500 $9,500 Total Current Liabilities $59,400 $56,100 Notes Payable, Long-Term Portion $59,500 $69,000 Total Liabilities $118,900 $125,100 Shareholders' Equity Common Shares $162,000 $162,000 Retained Earnings $492,120 $426,300 Total Shareholders' Equity $654,120 $588,300 Total Liabilities and Equity $773,020 $713,400 Additional Information: During 2023, land was sold for a gain of $4,600. There was no purchase of equipment throughout the year. Cleancarpet Vacuums Cleancarpet Vacuums Income Statement For the Year Ended June 30, 2023 Sales $567,000 Cost of Goods Sold $340,200 Gross Profit $226,800 Operating Expenses Depreciation Expense $8,200 Other Operating Expenses $60,400 Total Operating Expenses $68,600 Income from Operations $158,200 Other Income and Expenses Gain on Sale of Land $4,600 Income before Income Tax $162,800 Income Tax Net Income $56,980 $105,820 Create the cash flow statement using the indirect method. Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash. Create the cash flow statement using the indirect method. Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash. Cleancarpet Vacuums Cash Flow Statement For the Year Ended June 30, 2023 Cash Flow from Operating Activities Net Income Adjustments to Reconcile Net Income to Cash Depreciation Expense Gain on Sale of Land Changes in Operating Assets and Liabilities Change in Accounts Receivable Change in Merchandise Inventory Change in Accounts Payable Net Cash Provided (Used) by Operating Activities Cash Flow from Investing Activities Sale of Land Net Cash Provided (Used) by Investing Activities Cash Flow from Financing Activities Payment of Notes Payable Payment of Cash Dividend Net Cash Provided (Used) by Financing Activities Net increase (decrease) in cash Cash at the Beginning of the Year Cash at the End of the Year