Presented below are the financial statements of Metlock Company. Metlock Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 66,500 Accounts receivable 38.000 Inventory 53.200 Property, plant, and equipment 114.000 Accumulated depreciation (60,800) Total $210,900 2021 $38.000 26,600 38,000 148,200 45,600) $205,200 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable $36,100 13,300 32,300 34.200 95.000 $28.500 15.200 62,700 26,600 72,200 Common stock Retained earnings Total $210,900 $205,200 Metlock Company Income Statement For the Year Ended December 31, 2022 Sales revenue $459,800 Cost of goods sold 332500 Gross profit 127,300 Selling expenses $34,200 Administrative expenses 11,400 45,600 Income from operations 81,700 Interest expense 5,700 Income before income taxes Income tax expense 76,000 15,200 $ 60,800 Net income Additional data: 1 Depreciation expense was $33.250. 2 Dividends declared and paid were $38,000. 3. During the year equipment was sold for $16,150 cash. This equipment cost $34,200 originally and had accumulated depreciation of $18,050 at the time of sale. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - signes. -15,000 or in parenthesis e-. (15,000).) Metlock Company Statement of Cash Flows Adjustments to reconcile net income to eTextbook and Media Attempts: 0 of 3 used