Presented here are the financial statements of Pina Colada Company.

Pina Colada Company

Income Statement

For the Year Ended December $31,2022$

Sales Revenue $$241,300$

Cost of goods sold $$176,400$

Gross profit $$64,900$

Selling expenses $$18,375$

Administrative expenses $$6,125$ $$24,500$

Income from operations $$40,400$

Interest expense $$3800$

Income before taxes $$36,600$

Income tax expense $$7,320$

Net income $$29,280$

Additional data:

$1.$Depreciation expense was $$16,000.$

$2.$Dividends declared and paid were $$21,780.$

$3.$During the year equipment was sold for $$8,800$ cash. This equipment cost $$18,400$ originally and had accumulated

depreciation of $$9,600$ at the time of sale.

$4.$Bonds were redeemed at their carrying value.

$5.$Common stock was issued at par for cash.

Please use the information above as well as the photo of the comparitive balance sheets to prepare a statement of cash flows using the indirect method. Show values that decrease cash with a Parenthesis sign e$.$g$.(15000).$ Thank you!!!