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

LAG Network Inc.
Income Statement
For Year Ended December 31, 2023
Sales				$	937,600
Cost of goods sold					565,200
Gross profit				$	372,400
Operating expenses:
Depreciation expense	$	25,200
Other expenses		249,800
Total operating expenses					275,000
Profit from operations				$	97,400
Income taxes					27,600
Profit				$	69,800

LAG Network Inc.
Comparative Balance Sheet Information
	December 31
	2023				2022
Assets
Cash	$	81,280			$	56,200
Accounts receivable		51,400				39,400
Merchandise inventory		272,120				260,400
Equipment		163,400				140,200
Accumulated depreciation		(80,800	)			(55,600	)
Total assets	$	487,400			$	440,600
Liabilities and Equity
Accounts payable	$	40,200			$	52,800
Income taxes payable		20,600				19,200
Common shares		372,000				324,000
Retained earnings		54,600				44,600
Total liabilities and equity	$	487,400			$	440,600

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

Equipment is purchased for $23,200 cash.

19,200 common shares are issued for cash at $2.50 per share.

Declared and paid $59,800 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.)