Presented here are the financial statements of Wildhorse Company. Wildhorse Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $37,100 $20,100 Accounts receivable 32,900 19,500 Inventory 29,900 20,900 Property, plant, and equipment 59,700 77,500 Accumulated depreciation (29.100) (23,400) Total $130,500 $114,600 Liabilities and Stockholders' Equity Accounts payable $28,300 $17,000 Income taxes payable 7,000 8,400 Bonds payable 27,300 33,600 Common stock 17,200 14,600 Retained earnings 50,700 41,000 Total $130,500 $114,600 Wildhorse Company Income Statement For the Year Ended December 31, 2022 Sales revenue $241,100 Wildhorse Company Income Statement For the Year Ended December 31, 2022 Sales revenue $241,100 Cost of goods sold 176,400 Gross profit 64,700 Selling expenses $17,550 Administrative expenses 5,850 23,400 Income from operations 41,300 Interest expense 3,600 Income before income taxes 37,700 Income tax expense 7,540 Net income $30,160 1. Additional data: Depreciation expense was $15,700. 2. Dividends declared and paid were $20,460. 3. During the year equipment was sold for $7,800 cash. This equipment cost $17,800 originally and had accumulated depreciation of $10,000 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. eTextbook and Media Sever Later Prepare statement of cash flows using the indirect method (Show ancunts that decreme o or in parenthesis eg. (15,000) hera-signng-15,000 Adjustments to reconcile net income to Wildhorse Company Statement of Cash Flows < < < < < Attempts 0 of 7 used Subvid Arower