Presented here are the financial statements of Lily Company. Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $130,40049,100$114,20043,100 LILY COMPANY W Income Statement For the Year Ended December 31, 2022 Sales revenue Gross profit $18,600 Selling expenses 46,20040,80024,800 Income from operations Interest expense Income before income taxes Income tax expense Net income 38,4002,400 Additional data: 1. Depreciation expense was $15,500. 2. Dividends declared and paid were $24,720. 3. During the year, equipment was sold for $9,200 cash. This equipment originally cost $18,000 and had accumulated depreciation of $8,800 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. Further analysis reveals the following. 1. Accounts payable pertain to merchandise suppliers. 2. Alloperating expenses except for depreciation were paid in cash. 3. All depreciation expense is in the selling expense category. 4. All sales and inventory purchases are on account. sign e. 15,000 or in parenthesis e. (15,000). Net Cash Provided by Operating Activities 34200 Cash Flows from Investing Activities Cash Flows from Financing Activitics Payment of Oividends Redemption of Bonds bsuance of Common Stock