Leviathan Manufacturing makes and sells integrated circuit boards. At the end of $2023,$ the income statement and comparative balance sheet were prepared as shown below.

Leviathan Manufacturing

Balance Sheet

As at March $31$

$20232022$

Assets

Current Assets

Cash $$439,215$ $$120,700$

Accounts Receivable $$222,800$ $$250,900$

Merchandise Inventory $$500,200$ $$456,300$

Prepaid Expenses $$21,400$ $$21,400$

Total Current Assets $$1,183,615$ $$849,300$

Long$-$Term Assets

Land $$19,600$

Equipment $$331,600$ $$331,600$

Less: Accumulated Depreciation $$-100,400$ $$-99,100$

Total Long$-$Term Assets $$231,200$ $$252,100$

Total Assets $$1,414,815$ $$1,101,400$

Liabilities

Current Liabilities

Accounts Payable $$307,900$ $$324,300$

Notes Payable, Current Portion $$36,600$ $$29,500$

Total Current Liabilities $$344,500$ $$353,800$

Notes Payable, Long$-$Term Portion $$207,200$ $$191,400$

Total Liabilities $$551,700$ $$545,200$

Shareholders' Equity

Common Shares $$291,000$ $$249,000$

Retained Earnings $$572,115$ $$307,200$

Total Shareholders' Equity $$863,115$ $$556,200$

Total Liabilities and Equity $$1,414,815$ $$1,101,400$

Additional Information:

During $2023,$ land was sold for a loss of $$4,800.$ There was no purchase of equipment. The company did not pay off any amount of the notes payable.

Leviathan Manufacturing

Income Statement

For the Year Ended March $31,2023$

Sales $$2,879,000$

Cost of Goods Sold $$1,727,400$

Gross Profit $$1,151,600$

Operating Expenses

Depreciation Expense $$1,300$

Other Operating Expenses $$660,400$

Total Operating Expenses $$661,700$

Income from Operations $$489,900$

Other Income and Expenses

Loss on Sale of Land $$-4,800$

Income before Income Tax $$485,100$

Income Tax $$169,785$

Net Income $$315,315$

Prepare 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.Leviathan Manufacturing

Cash Flow Statement

For the Year Ended March $31,2023$