The Balance Sheets for Pedro, Inc. for the years ending December 31, 2023 and 2022 are shown below: Dec. 31, 2023 Dec. 31, 2022 Cash 111,100 33,900 Accounts Receivable Allowance for Doubtful Amounts Prepaid expenses 38,800 43,800 (1,900) (2,300) 6,100 6,800 Inventories Land 58,600 51,800 195,000 130,000 Buildings 250,000 250,000 Accumulated Depreciation - buildings (50,000) (41,700) Equipment 74,000 74,000 Accumulated depreciation equipment (48,500) (35,500) Vehicles 114,000 98,000 Accumulated depreciation - vehicles (54,600) (72,000) Patents 19,800 32,000 712,400 568,800 Dec. 31, 2023 Dec. 31, 2022 Accounts payable Accrued liabilities Mortgage payable Bonds payable Premium on Bonds 26,000 29,000 7,000 5,900 147,400 176,000 200,000 0 6,500 0 Common Stock ($1PV) 52,500 50,000 Additional paid-in capital 144,250 120,500 Retained earnings 128,750 187,400 712,400 568,800 The income statement for 2023 is as follows: Sales Cost of sales Gross profit Operating expenses Other Income (Loss), net Net income (Loss) 1,540,000 (1,060,000) 480,000 (410,500) 3,100 72,600 1. On January 1, 2023 Pedro, Inc. declared and distributed a 5% stock dividend when the FMV was $10.50/sh. 2. On December 1, 2023 cash dividends of $2 per share were declared and paid. 3. A vehicle which cost $40,000 and had a book value of $5,200 was sold for $4,100. 4. Sold $10,000 patents for $14,200 cash. 5. Issued Bonds on December 31, 2023. 6. Purchased a new vehicle. Instructions (a) From the information above, prepare a statement of cash flows (indirect method) for Pedro, Inc. for the year ended December 31, 2023. (b) From the information above, prepare a schedule of cash provided by operating activities using the direct method.