LAG Network Inc.$$s balance sheet and income statement are as follows:

LAG Network Inc.

Income Statement

For Year Ended December $31,2023$

Sales $ $931,600$

Cost of goods sold $559,200$

Gross profit $ $372,400$

Operating expenses:

Depreciation expense $ $25,200$

Other expenses $237,800$

Total operating expenses $263,000$

Profit from operations $ $109,400$

Income taxes $21,600$

Profit $ $87,800$

LAG Network Inc.

Comparative Balance Sheet Information

December $31$

$20232022$

Assets

Cash $ $81,220$ $ $55,000$

Accounts receivable $45,40038,200$

Merchandise inventory $281,180252,000$

Equipment $157,400139,000$

Accumulated depreciation $(74,800)(49,600)$

Total assets $ $490,400$ $ $434,600$

Liabilities and Equity

Accounts payable $ $34,200$ $ $46,800$

Income taxes payable $14,60013,200$

Common shares $366,000333,000$

Retained earnings $75,60041,600$

Total liabilities and equity $ $490,400$ $ $434,600$

Additional information regarding LAG Network Inc.$$s activities during $2023$:

Equipment is purchased for $$18,400$ cash.

$13,200$ common shares are issued for cash at $$2\mathrm{.}50$ per share.

Declared and paid $$53,800$ of cash dividends during the year.

Required:

Prepare a statement of cash flows for $2023$ that reports the cash inflows and outflows from operating activities according to the indirect method. $($List any deduction in cash and cash outflows as negative amounts.$)$