Prepare the Candy Company statement of cash flows using the indirect method.

1. After completing the Cash-Flow Statement, what key points would you highlight for your manager as you present the results for the year?

2. Any concerns that you would want to change in the coming year?

Candy Company Income Statement For the Year Ended December 31, 2022 (\$ in thousands) Sales Revenue $17,650 Operating Expenses: Cost of Goods Sold 7,200 Selling Expense 2,400 General and Admin Expense 1,500 Total Operating Expenses Operating Income Interest Expense Income before Income Taxes Income Tax Expense Net Income 11,1006,5502006,3502,5003,850 Balance Sheet Information (\$ in thousands) Assets: Cash Accounts Receivable Inventory Prepaid Rent Equipment Less: Accumulated Depreciation Total Assets Liabilities and Shareholders' Equity: Accounts Payable Interest Payable Unearned Revenue Income Taxes Payable Notes Payable (due 12/31/2025) Common Stock Retained Earnings Total Liabilities and Shareholders' Equity Other Information needed: Cash Dividend declared and paid Equipment was purchased with cash Depreciation included in operating expenses Dec. 31, 2022 Dec. 31, 2021 \begin{tabular}{|c|c|c|c|} \hline \multirow[t]{7}{*}{$} & 7,350 & 2,200 & 5,150 \\ \hline & 2,500 & 2,200 & 300 \\ \hline & 4,000 & 3,000 & 1,000 \\ \hline & 150 & 300 & (150) \\ \hline & 14,500 & 12,000 & 2,500 \\ \hline & (5,100) & (4,500) & (600) \\ \hline & 23,400 & 15,200 & 8,200 \\ \hline \multirow[t]{8}{*}{$} & 1,400 & 1,100 & 300 \\ \hline & 100 & - & 100 \\ \hline & 800 & 600 & 200 \\ \hline & 550 & 800 & (250) \\ \hline & 5,000 & - & 5,000 \\ \hline & 10,000 & 10,000 & - \\ \hline & 5,550 & 2,700 & 2,850 \\ \hline & 23,400 & 15,200 & 8,200 \\ \hline \end{tabular}