Presented here are the financial statements of Skysong, Company.

Skysong, Company Comparative Balance Sheets December 31
Assets		2022			2021
Cash		$37,900			$20,300
Accounts receivable		32,200			18,800
Inventory		30,600			20,500
Property, plant, and equipment		59,400			77,100
Accumulated depreciation		(29,300	)		(23,200	)
Total		$130,800			$113,500
Liabilities and Stockholders Equity
Accounts payable		$28,300			$16,600
Income taxes payable		7,200			8,500
Bonds payable		27,500			33,900
Common stock		18,500			14,700
Retained earnings		49,300			39,800
Total		$130,800			$113,500

Skysong, Company Income Statement For the Year Ended December 31, 2022
Sales revenue				$241,200
Cost of goods sold				175,900
Gross profit				65,300
Selling expenses		$17,250
Administrative expenses		5,750		23,000
Income from operations				42,300
Interest expense				4,000
Income before income taxes				38,300
Income tax expense				7,660
Net income				$30,640

Additional data:

1.		Depreciation expense was $16,200.
2.		Dividends declared and paid were $21,140.
3.		During the year equipment was sold for $7,600 cash. This equipment cost $17,700 originally and had accumulated depreciation of $10,100 at the time of sale.
4.		Bonds were redeemed at their carrying value.
5.		Common stock was issued at par for cash.

(a)

New attempt is in progress. Some of the new entries may impact the last attempt grading.

Your answer is partially correct.

Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)