Please answer question #11, SHOWING ALL WORK ACCORDINGLY ON ALL PARTS. Thank you!

Condensed financial data of Ivanhoe Company appear below: IVANHOE COMPANY Comparative Balance Sheet December 31 Assets 2022 2021 Cash $65.700 $53,000 Accounts receivable 87.000 52,000 Inventories 122.000 130,000 Prepaid expenses 16.900 29,000 Investments 83,000 68.000 Plant assets 317,000 258.000 Accumulated depreciation (75.000) (64,000) Total $616,600 $526,000 Liabilities and Stockholder's Equity Accounts payable $92,000 $83,000 Accrued expenses payable 20.700 24,300 Bonds payable 136,000 152,000 Common stock 249.500 172,500 Retained earnings 118.400 94,200 Total S616,600 $526.000 IVANHOE COMPANY Income Statement For the Year Ended December 31, 2022 Sales $486,000 Less- Cost of goods sold $296,000 Operating expenses (exculding depreciation) 66,500 Depreciation expense 17.900 Income taxes 16,200 Interest expense 13,100 8,300 418,000 Loss on disposal of plant assets Net income $68.000 1. Additional information: New plant assets costing $89,000 were purchased for cash in 2022. 2 Old plant assets costing $28.000 were sold for $5,000 cash when bookvalue was $14.000 Bonds with a face value of $24,000 were converted into $24,000 of common stock A cash dividend of $26,000 was declared and paid during the year. Accounts payable pertain to merchandise purchases. 3 4. 5. Prepare a statement of cash flows for the year using the direct method. (Show amounts that decrease cash flow with either a - signes -15,000 or in parenthesis eg. (15,000).) IVANHOE COMPANY Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activitles $ 68,000 DOOD 16.700 Net Cash Provided by Operating Activities 84.700 Cash Flows from Financing Activities Purchase of investments 15,000 Purchase of Plant Assets 489.000 Sale of Plant Assets 5.000 Sale of Plant Assets 5,000 Net Cash Provided by Financing Activitles -99,000 Cash Flows from Investing Activities Issuance of Common Stock 53,000 Payment of Cash Dividends -26,000 Net Cash Provided by Investing Activitles 27,000 Net Increase in Cash 12.700 Cash at Beginning of Perlod 53,000 Cash at End of Period 65.700 $ 65.700