Sunland Company 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 Sunland Company for 2022 and 2021 are provided below. BALANCE SHEETS 12/31/22 12/31/21 Cash $407000 $ 192000 Accounts receivable 359000 214000 Inventory 384000 481000 Property, plant and equipment $609000 $958000 Less accumulated depreciation (321000) 288000 (302000) 656000 $1438000 $1543000 Accounts payable $ 176000 $ 95000 Income taxes payable 353000 391000 Bonds payable 361000 602000 Common stock 212250 217000 Retained earnings 335750 238000 $1438000 $1543000 INCOME STATEMENT For the Year Ended December 31, 2022 Sales revenue $8400000 Cost of sales 7152000 Gross profit 1248000 Selling expenses $598000 Administrative expenses 190000 788000 Income from operations 460000 Interest expense 71000 Income before taxes 389000 Income taxes 97250 Net income $ 291750 The following additional data were provided: 1. Dividends for the year 2022 were $194000. 2. During the year, equipment was sold for $240000. This equipment cost $351000 originally and had a book value of $288000 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 (used) by investing activities is O $240000 O $(288000). O $48000. O $(351000)