Question 13 Marigold Corp. has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to have prepared is a statement of cash flows. Financial statements of Marigold Corp. for 2022 and 2021 are provided below. BALANCE SHEETS 12/31/22 12/31/21 Cash $407000 $ 194000 Accounts receivable 360000 214000 Inventory 384000 482000 Property, plant and equipment $606000 $960000 Less accumulated depreciation (319000) 287000 (303000) 657000 $1438000 $1547000 Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $ 175000 354000 361000 221000 327000 $1438000 $ 97000 392000 600000 214000 244000 $1547000 $8380000 7152000 1228000 INCOME STATEMENT For the Year Ended December 31, 2022 Sales revenue Cost of sales Gross profit Selling expenses $599000 Administrative expenses 190000 Income from operations Interest expense Income before taxes Income taxes Net income 789000 439000 71000 368000 92000 $ 276000 The following additional data were provided: 1. Dividends for the year 2022 were $193000. 2. During the year, equipment was sold for $241000. This equipment cost $354000 originally and had a book value of $287000 at the time of sale. The loss on sale was incorrectly charged to cost of sales. 3. All depreciation expense is in the selling expense category. The net cash provided by operating activities is $276000. O $230000. $397000. O $192000