Prepare a statement of cash flow for the year ending on december $31,2022$ using the indrect method

Sales Cost of goods sold Aarons Corporation Income Statement For Year Ended December 31, 20X2 Depreciation expense Other operating expenses Interest expense Other gains (losses): Loss on sale of equipment Income before taxes Income taxes expense Net income $240,000 $80,900 29,400 48,000 2.000 (160,300) (8.400 71,300 27.650 $43.650 Additional information: (1) There was no gain or loss on the sales of the long-term investments, nor on the bonds retired. (2) Old equipment with an original cost of $37,550 was sold for $2,100 cash. (3) New equipment was purchased for $67,550 cash. (5) Additional shares of stock were issued for cash. (4) Cash dividends were paid. Use the following financial statements and additional information to prepare a statement of cash flows for the year ended December 31, 20X2 using the indirect method. Aarons Corporation Balance Sheets At December 31 Assets: Cash Accounts receivable Merchandise inventory Long-term investments Equipment Accumulated depreciation Total assets Liabilities: Accounts payable 20X2 20X1 $24,640 $23,040 32,180 29,400 73,125 61,710 55,900 56,400 175,500 145,500 (33.550 (31.200 $327.795 $284.850 $ 65,000 $ 40,380 Income taxes payable 10,725 10,200 Bonds payable 48.750 66.000 Total liabilities $124,475 $116,580 Equity: Common stock 117,000 96,000 Paid-in capital in excess of par 13,000 9,000 Retained earnings 73.320 63.270 Total equity $203.320 $168,270 Total liabilities and equity $327.795 $284.850