KINGBIRD CORPORATION Statement of Cash Flows-Indirect Method December 31, 2022 Cash Flows from Operating Activities : Net Income / (Loss) 265000 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Increase in Income Tax Payable Decrease in Accounts Payable Increase in Accounts Receivable Increase in Inventory Net Cash Provided by Operating Activities Exercise 203 The following information is available for Kingbird Corporation for the year ended December Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income Cash received for sale of land at book value Sales revenue Cash dividends paid Income tax payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds $44,000 3,900 82,000 9,600 14,000 265,000 44,000 740,500 12,000 4,900 140,000 32,400 216,000 Prepare a statement of cash flows using the indirect method. (Show amounts that decreu