Shown below are comparative balance sheets for Sandhill Company. 2021 Sandhill Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 163,200 Accounts receivable 211,200 Inventory 400,800 Land 192,000 Equipment 624,000 Accumulated depreciation-equipment (158,400) Total $1,432,800 Liabilities and Stockholders' Equity Accounts payable $ 93,600 Bonds payable 360,000 Common stock ($1 par) 518,400 Retained earnings 460,800 Total $1,432,800 $ 52,800 182,400 453,600 240,000 480,000 (76,800) $1,332,000 $ 103,200 480,000 417,600 331,200 $1,332,000 Additional information: Additional information: 1. 2. 3 4. Net income for 2022 was $223,200. Depreciation expense was $81,600. Cash dividends of $93,600 were declared and paid. Bonds payable amounting to $120,000 were redeemed for cash $120,000. Common stock was issued for $100,800 cash. No equipment was sold during 2022. Land was sold for its book value. 5. 6. 7. 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.8. (45,000)). Sandhill Company Statement of Cash Flows $ Adjustments to reconcile net income to Sandhill Company Statement of Cash Flows $ Adjustments to reconcile net income to $ > >