prepare statement of cash flows

Pharoah Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $177,760 $ 106,480 Accounts receivable 193,160 83,600 Inventory 247,500 226,270 Prepaid expenses 62,480 57,200 Long-term investments 303,600 239,800 Plant assets 627,000 533,500 Accumulated depreciation (110,000) (114,400) Total $1,501,500 $1,132,450 Liabilities and Stockholders' Equity Accounts payable $ 224,400 $ 148,060 Accrued expenses payable 36,300 46,200 Bonds payable 242,000 321,200 Common stock 484.000 385,000 Retained earnings 514,800 231,990 Total $1,501,500 $1,132,450 Pharoah Company Income Statement Data For the Year Ended December 31, 2022 47:10 Hide Sales revenue $854,612 Less: $298,012 Cost of goods sold Operating expenses, excluding depreciation 27,302 Depreciation expense 102,300 Income tax expense 60,016 Interest expense 10.406 Loss on disposal of plant assets 16,500 514,536 Net income $340,076 Additional information: 1. New plant assets costing $220,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $126,500 and accumulated depreciation of $106,700 were sold for $3,300 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $57,266 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.3. - 15,000 or in parenthesis e.s. (15,000).)