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Problem 12-09A Your answer is partially correct. Try again. Condensed financial data of Vaughn Manufacturing follow. Vaughn Manufacturing Comparative Balance Sheets December 31 2021 2022 Assets Cash $145,440 $87,120 158,040 68,400 Accounts receivable 202,500 185,130 Inventory 46,800 Prepaid expenses 51,120 196,200 248,400 Long-term investments 513,000 436,500 Plant assets (90,000) (93,600) Accumulated depreciation $1,228,500 $926,550 Total Liabilities and Stockholders' Equity Accounts payable $183,600 $121,140 Accrued expenses payable 29,700 37,800 Bonds payable 198,000 262,800 396,000 315,000 Common stock 421,200 189,810 Retained earnings $1,228,500 $926,550 Total Vaughn Manufacturing Income Statement Data For the Year Ended December 31, 2022 $699,228 Sales revenue Less: $243,828 Cost of goods sold 22,338 Operating expenses, excluding depreciation 83,700 Depreciation expense 49,104 Income tax expense Interest expense 8,514 13,500 420,984 Loss on disposal of plant assets $278,244 Net income Additional information: 1. New plant assets costing $180,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $103,500 and accumulated depreciation of $87,300 were sold for $2,700 cash 3. Bonds payable matured and were paid off at face value for cash 4. A cash dividend of $46,854 was declared and paid during the year. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net Increase in Cash Cash at Beginning of Period Cash at End of Period