Question 1 View Policies Current Attempt in Progress Shown below are comparative balance sheets for Buffalo Industries. Buffalo Industries Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 183,600 Accounts receivable 237,600 Inventory 450,900 $59.400 205,200 510,300 270,000 540,000 (86,400) Land Equipment 216,000 702,000 (178,200) Accumulated depreciation-equipment Total $1,611,900 $1.498,500 Liabilities and Stockholders' Equity Accounts payable $ 105,300 $ 116,100 405,000 540,000 583,200 469,800 Bonds payable Common stock ($1 par) Retained earnings Total 518,400 $1,611,900 372,600 $1498.500 Additional Information 1. Net income for 2022 was $251,100. 2. Depreciation expense was $91,800. 3. Cash dividends of $105,300 were declared and paid. 4. Bonds payable amounting to $135,000 were redeemed for cash $135,000 5. Common stock was issued for $113,400 cash 6. No equipment was sold during 2022 7. Land was sold for its book value. Prepare a statement of cash flows for 2022 using the Indirect method. (Show amounts that decrease cash flow with either d ignes. -45,000 Buffalo Industries Statement of Cash Flows Adjustments to reconcile