Flint Inc., a greeting card company that follows ASPE, had the following statements prepared as at December 31, 2023: \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{\begin{tabular}{c} Flint Inc. \\ Income Statement \\ Year Ended December 31, 2023 \end{tabular}} \\ \hline Sales revenue & & $348,180 \\ \hline Cost of goods sold & & 165,000 \\ \hline Gross margin & & 183,180 \\ \hline Operating expenses & & 120,000 \\ \hline Operating income & & 63,180 \\ \hline Interest expense & $11,700 & \\ \hline Impairment loss-goodwill & 40,000 & \\ \hline Gain on disposal of equipment & (2,400) & 49,300 \\ \hline Income before income tax & & 13,880 \\ \hline Income tax expense & & 4,195 \\ \hline Net income & & $9,685 \\ \hline \end{tabular} Additional information: Dividends on common shares in the amount of $4,000 were declared and paid during 2023. Dividends paid are treated as 1. financing activities. 2. Depreciation expense is included in operating expenses, as is salaries and wages expense of $71,000. 3. Equipment with a cost of $42,000 that was 70% depreciated was sold during 2023 . Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a negative sign e.g. 15,000 or in parenthesis e.g. (15,000). \begin{tabular}{|c|c|c|} \hline Accounts payable & $46,230 & $40,120 \\ \hline Income tax payable & 4,000 & 6,150 \\ \hline Salaries and wages payable & 8,190 & 4,190 \\ \hline Short-term loans payable & 7,940 & 10,100 \\ \hline Long-term loans payable & 56,000 & 75,000 \\ \hline Common shares & 130,000 & 130,000 \\ \hline Retained earnings & 41,685 & 36,000 \\ \hline Total liabilities and shareholders' equity & $294,045 & $301,560 \\ \hline \end{tabular} Flint Inc. Income Statement Year Ended December 31, 2023 Sales revenue $348,180 Cost of goods sold 165,000