Shown below are comparative balance sheets for Blue Spruce Company.

Blue Spruce Company Comparative Balance Sheets December 31
Assets		2022			2021
Cash		$ 88,400			$ 28,600
Accounts receivable		114,400			98,800
Inventory		217,100			245,700
Land		104,000			130,000
Equipment		338,000			260,000
Accumulated depreciationequipment		(85,800	)		(41,600	)
Total		$776,100			$721,500
Liabilities and Stockholders Equity
Accounts payable		$ 50,700			$ 55,900
Bonds payable		195,000			260,000
Common stock ($1 par)		280,800			226,200
Retained earnings		249,600			179,400
Total		$776,100			$721,500

Additional information:

1.		Net income for 2022 was $120,900.
2.		Depreciation expense was $44,200.
3.		Cash dividends of $50,700 were declared and paid.
4.		Bonds payable amounting to $65,000 were redeemed for cash $65,000.
5.		Common stock was issued for $54,600 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 a - sign e.g. -45,000, or in parenthesis e.g. (45,000)).

Blue Spruce Company Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Increase in Accounts Recelvable Decrease in Inventory Decrease in Accounts Payable Net Cash Provided by Operating Activities Net Cash Provided by Investing Activitles Net Cash Provided by Investing Activities Sale of Land Purchase of Equipment Net Cash Provided by Investing Activities Cash Flows from Financing Activitles Issuance of Common Stock Payment of Cash Dividends Redemption of Bonds Net Cash used by Financing Activities Net Increase in Cash Cash at Beginning of Perlod Cash at End of Period