Shown below are comparative balance sheets for Teal Mountain Company. Teal Mountain Company Comparative Balance Sheets December 31 Assets 2022 2021 $ 149,600 $ 48,400 Cash 193,600 Accounts receivable 167,200 Inventory 367,400 415,800 Land 176,000 220,000 440,000 Equipment 572,000 Accumulated depreciation-equipment (145,200) (70,400 ) $1,313,400 $1,221,000 Total Liabilities and Stockholders' Equity $ 94,600 $85,800 Accounts payable Bonds payable 440,000 330,000 Common stock ($1 par) 475,200 382,800 Retained earnings 422,400 303,600 $1,313,400 $1,221,000 Total Additional information: Net income for 2022 was $204,600. 1. Depreciation expense was $74,800. 2. 3. Cash dividends of $85,800 were declared and paid. 4. Bonds payable amounting to $110,000 were redeemed for cash $110,000. 5. Common stock was issued for $92,400 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 a - sign eg. -45,000, or in parenthesis e.g. (45,000)). Teal Mountain Company Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income 204.600 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 74,800 Increase in Accounts Receivable 26,400 Decrease in Inventory 48,400 Decrease in Accounts Payable 8,800 Net Cash Provided by Operating Activities Cash Flows from Investing Activities Purchase of Equipment Sale of Land Net Cash Provided by Investing Activities Cash Flows from Financing Activities Payment of Cash Dividends Issuance of Common Stock Redemption of Bonds Net Cash Provided by Financing Activities Net Increase in Cash Cash at Beginning of Period Cash at End of Period