The balance sheet and income statement for Joe's Fish Hut are presented below: Joe's Fish Hut Balance Sheet As at March 31 2023 2022 ASSETS Current Assets Cash Accounts receivable $152,255 $59,200 $24,300 $13,700 Merchandise inventory Total Current Assets $23,400 $28,900 $199,955 $101,800 Property, plant & equipment(1) $134,000 $184,000 Less: Accumulated depreciation $-26,300 $-20,800 TOTAL ASSETS $307,655 $265,000 Less: Accumulated depreciation $-26,300 $-20,800 TOTAL ASSETS $307,655 $265,000 LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts payable $25,300 $33,900 Notes payable-current portion $6,400 $6,400 Total Current Liabilities $31,700 $40,300 Notes payable-long-term portion $86,000 $47,000 TOTAL LIABILITIES $117,700 $87,300 Shareholders' Equity Common shares $71,000 $55,800 Retained earnings(2) $118,955 $121,900 TOTAL SHAREHOLDERS' EQUITY $189,955 $177,700 TOTAL LIABILITIES AND EQUITY $307,655 $265,000 Additional Information: 1. Property, Plant & Equipment During 2023, equipment was sold for a loss of $7,300. The cash proceeds from the sale totaled $42,700. 2. Retained Earnings TOTAL SHAREHOLDERS' EQUITY $189,955 $177,700 TOTAL LIABILITIES AND EQUITY $307,655 $265,000 Additional Information: 1. Property, Plant & Equipment During 2023, equipment was sold for a loss of $7,300. The cash proceeds from the sale totaled $42,700. 2. Retained Earnings Joe's Fish Hut declared and paid $6,000 in dividends in 2023. Joe's Fish Hut Income Statement For the Year Ended March 31, 2023 Sales COGS Gross Profit $125,000 $81,250 $43,750 Operating Expenses Depreciation Expense $5,500 Other operating expenses $26,250 Total Operating Expenses $31,750 Operating Income $12,000 Other Income Operating Income $12,000 Other Income Loss on Sale of Equipment $7,300 Net Income Before Tax $4,700 Income Tax $1,645 Net Income $3,055 Create the cash flow statement using the indirect method. Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash. Joe's Fish Hut Cash Flow Statement For the Year Ended March 31, 2023 Cash Flow from Operating Activities Net Income Add: Depreciation Add: Loss on sale of equipment Change in Operating Assets and Liabilities Add: Loss on sale of equipment Change in Operating Assets and Liabilities Change in Accounts Receivable Change in Merchandise Inventory Change in Accounts Payable Net Cash Provided (Used) by Operating Activities Cash Flow from Investing Activities Sale of equipment Net Cash Provided (Used) by Investing Activities Cash Flow from Financing Activities Issue of common shares Receipt of notes payable Payment of cash dividend Net Cash Provided (Used) by Financing Activities: Cash Flow from investing Activities Sale of equipment Net Cash Provided (Used) by Investing Activities Cash Flow from Financing Activities Issue of common shares Receipt of notes payable Payment of cash dividend Net Cash Provided (Used) by Financing Activities Net increase (decrease) in cash Cash at the beginning of the year Cash at the end of the year