Swiss Farm Inc.$$s $2023$ statement of cash flows appeared as follows:

Cash flows from operating activities:

Profit $ $125,300$

Accounts receivable increase $ $(15,500)$

Inventory decrease $48,400$

Prepaid expense increase $(5,400)$

Accounts payable decrease $(18,100)$

Income taxes payable increase $5,200$

Depreciation expense $12,800$

Loss on disposal of equipment $12,600$

Gain on bond retirement $(6,100)33,900$

Net cash inflows from operating activities $ $159,200$

Cash flows from investing activities:

Receipt from sale of office equipment $ $6,700$

Purchase of store equipment $(33,800)$

Net cash outflows from investing activities $(27,100)$

Cash flows from financing activities:

Payment to retire bonds payable $ $(51,900)$

Payment of dividends $(34,000)$

Net cash outflows from financing activities $(85,900)$

Net increase in cash $ $46,200$

Cash balance at December $31,202246,200$

Cash balance at December $31,2023$ $ $92,400$

Swiss Farm Inc.$$s balance sheet information is as follows:

December $31$

$20232022$

Cash $ $92,400$ $ $46,200$

Accounts receivable $116,500101,000$

Merchandise inventory $213,500261,900$

Prepaid expenses $10,6005,200$

Equipment $100,700111,000$

Accumulated depreciation $19,80031,800$

Accounts payable $60,10078,200$

Income taxes payable $12,5007,300$

Dividends payable $08,300$

Bonds payable $058,000$

Common shares $270,000270,000$

Retained earnings $171,30071,700$

An examination of the company$$s statements and accounts showed:

All accounts have normal balances.

All sales were made on credit.

All merchandise purchases were on credit.

Accounts payable balances resulted from merchandise purchases.

Prepaid expenses relate to other operating expenses.

Equipment that cost $$44,100$ and was depreciated $$24,800$ was sold for cash.

Equipment was purchased for cash.

The change in the balance of Accumulated Depreciation resulted from depreciation expense and from the sale of equipment.

The change in the balance of Retained Earnings resulted from dividend declarations and profit.

Cash receipts from customers were $$794,000.$

Cash payments for merchandise inventory amounted to $$429,400.$

Cash payments for other operating expenses were $$172,200.$

Income taxes paid were $$33,200.$

Required:

Prepare Swiss Farm$$s single$-$step income statement for $2023.$