Prepare a statement of cash flows for Egon Castle Corp for the year ending December $31,2023.$ See template on next page.

Egon Castle $\text{'}$s $2023$ income statement revealed sales of $$1,400,000$; EBITDA margin of $18\%$; interest expense of $$22,000$; and an effective tax rate of $24\%.$ The increase in common stock and additional paid$-$in capital is due to issuing additional shares for cash. Comparative balance sheets for Egon Castle follow.

Egon Castle Corp

Statement of Cash Flows

For the year ending December $31,2023$

Cash flows from operating activities:

Net income

Add $($deduct$)$ noncash effects on operating income

Depreciation expense

Change in accounts receivable

Change in inventory

Change in prepaid insurance

Change in accounts payable

Change in accrued liabilities

Change in income taxes payable

Net cash provided by operating activities

Cash flows from investing activities:

Purchase of equipment

Net cash used by investing activities

Cash flows from financing activities:

Proceeds from issuing stock

Dividends on common

Net cash provided by financing activities

Net change in cash

Cash balance at January $1,2023$

Cash balance at December $31,2023$