Problem 12-07A (Part Level Submission) Presented below are the financial statements of Metlock Company. Metlock Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 66,500 Accounts receivable 38,000 Inventory 53,200 Property, plant, and equipment 114,000 Accumulated depreciation (60,800) Total $210,900 2021 $ 38,000 26,600 38,000 148,200 (45,600 ) $205,200 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $ 36,100 13,300 32,300 34,200 95,000 $210,900 $ 28,500 15,200 62,700 26,600 72,200 $205,200 $459,800 332,500 127,300 Metlock Company Income Statement For the Year Ended December 31, 2022 Sales revenue Cost of goods sold Gross profit Selling expenses $34,200 Administrative expenses 11,400 Income from operations Interest expense Income before income taxes Income tax expense Net income 45,600 81,700 5,700 76,000 15,200 $ 60,800 Additional data: 1. Depreciation expense was $33,250. 2. Dividends declared and paid were $38,000. 3. During the year equipment was sold for $16,150 cash. This equipment cost $34,200 originally and had accumulated depreciation of $18,050 at the time of sale. 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).) Metlock Company Statement of Cash Flows Adjustments to reconcile net income to