Pharoah Company's comparative balance sheets are presented below. Pharoah Company Comparative Balance Sheets December 31 2022 2021 Cash $ 14,500 $ 10,600 Accounts receivable 21,500 23,200 Land 20,200 25,700 Buildings 70,000 70,000 Accumulated depreciation-buildings (15,500) (10,500) Total $110,700 $119,000 Accounts payable $ 12,700 $ 30,600 Common stock 76,000 69,700 Retained earnings 22,000 18,700 Pharoah Company Comparative Balance Sheets December 31 2022 2021 Cash $ 14,500 $ 10,600 Accounts receivable 21,500 23,200 Land 20,200 25,700 Buildings 70,000 70,000 Accumulated depreciation-buildings (15,500) (10,500) Total $110,700 $119,000 Accounts payable $ 12,700 $ 30,600 Common stock 76,000 69,700 Retained earnings 22,000 18,700 Total $110,700 $119,000 1. Net income was $23,000. Dividends declared and paid were $19,700. 2. No noncash investing and financing activities occurred during 2022. 3. The land was sold for cash of $4,400. (a) Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a-sign eg. -15,000, or in parenthesis eg. (15,000).) Pharoah Company Statement of Cash Flows - Indirect Method $ Adjustments to reconcile net income to $