Presented below is information for 2022 and 2021 related to the operations of Pharoah Electronics, December 31 2022 2021 Cash $36,288 $29,680 Accounts receivable 30,016 25,984 Inventory 26,320 38,080 Prepaid expenses 2,352 3,248 Land 50,400 50,400 Equipment 138,880 109,872 Accumulated depreciation 17,696 22,288 Total $266,560 $234.976 $36,288 $52,080 12,320 10,864 Accounts payable Wages payable Bonds payable Common stock 39,200 0 122,080 117,600 Retained earnings 56,672 54,432 Total $266,560 $234,976 2022 Sales $333,760 162,400 171,360 9,632 127,680 Cost of goods sold Grass profit Depreciation expense Other operating expenses Income from operations Loss on equipment disposal Income before income taxes Income tax expense Net Income 34,048 1,568 32,480 10,976 $21.504 a Additional information: In 2022, Pharoah declared and paid a cash dividend of $19.264. The company issued $39,200 of bonds at a discount for cash. Equipment with a cost of $19,040 and a book value of $4,816 was sold for cash. New equipment was acquired for cash. The company issued stock for cash. Prepaid expenses pertain to operating expenses; accounts payable is only used for merchandise purchases. d. Prepare a statement of cash flows in proper form for 2022, using the indirect method. (Show amounts that decrease cash flow with either Osignes -15,000 or in porenthesses. (15,0001) Pharoal Electronics Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expert Low on sale of Equipment Here in Accounts Receivable Decrease in Inventory Decree in Prepaid Expenses Decree in Accounts Payable Cash at Beginning of Period > Curhat End of Period C Save for Attempts:0 of 1 used Submit