The balance sheet and income statement for Vespa Company are presented below.

Vespa Company Balance Sheet As at December 31
	2023	2022
Assets
Current Assets
Cash	$123,470	$75,400
Accounts Receivable	$46,200	$30,900
Merchandise Inventory	$72,200	$46,000
Total Current Assets	$241,870	$152,300
Land	$103,000	$109,000
Equipment	$105,000	$139,000
Less: Accumulated Depreciation	$-55,000	$-69,000
Total Assets	$394,870	$331,300
Liabilities and Equity
Liabilities
Current Liabilities
Accounts Payable	$33,000	$67,000
Taxes Payable	$23,500	$23,500
Total Current Liabilities	$56,500	$90,500
Bonds Payable	$117,800	$86,700
Total Liabilities	$174,300	$177,200
Shareholders' Equity
Common Shares	$79,800	$67,800
Retained Earnings	$140,770	$86,300
Total Shareholders' Equity	$220,570	$154,100
Total Liabilities and Equity	$394,870	$331,300

Notes: The company paid cash dividends during 2023.

The company did not make a bonds payable payment during 2023.

The company did not purchase any equipment during 2023.

The company did not purchase any land during 2023.

Vespa Company Income Statement For the Year Ended December 31, 2023
Sales	$402,000
Cost of Goods Sold	$261,300
Gross Profit	$140,700
Operating Expenses
Depreciation Expense	$8,000
Other Operating Expenses	$25,000
Total Operating Expenses	$33,000
Income from Operations	$107,700
Other Income and Expenses
Interest Expense	$-5,600
Loss on Sale of Equipment	$-7,700
Gain on Sale of Land	$6,700
Operating Income before Tax	$101,100
Income Tax	$30,330
Net Income (Loss)	$70,770

Prepare the statement of cash flows for December 31, 2023 using the indirect method.

Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash.

Vespa Company Statement of Cash Flows For the Year Ended December 31, 2023
Cash Flow from Operating Activities
Net Income	Answer
Adjustments to Reconcile Net Income to Cash
Depreciation Expense	Answer
Loss on Sale of Equipment	Answer
Gain on Sale of Land	Answer
Changes in Operating Assets and Liabilities
Increase in Accounts Receivable	Answer
Increase in Merchandise Inventory	Answer
Decrease in Accounts Payable	Answer
Change in Cash Due to Operating Activities		Answer
Cash Flow from Investing Activities
Sale of Equipment	Answer
Sale of Land	Answer
Net Cash Provided (Used) by Investing Activities		Answer
Cash Flow from Financing Activities
Proceeds from Issuance of Common Shares	Answer
Proceeds from Bonds Payable	Answer
Payment of Dividends	Answer
Net Cash Provided (Used) by Financing Activities		Answer
Net increase (decrease) in cash		Answer
Cash at the Beginning of the Year		Answer
Cash at the End of the Year		Answer