1. The comparative balance sheets for Naomi Corporation show the following information:
   1. $10,000 of the long-term note payable was paid by cash.

	2022		2021
Cash	$24,400		$20,700
Accounts receivable, net	43,300		20,300
Inventory	40,000		42,000
Investments	20,000		15,000
Building	160,000		100,000
Accumulated depreciation building	(27,700)		(20,000)
Equipment	61,500		50,000
Accumulated depreciation equipment	(10,000)		(17,500)
Total	$311,500		$210,500
Accounts payable	$17,000		$26,500
Salaries payable	21,000		17,000
Long-term notes payable	100,000		50,000
Common stock	110,000		90,000
Retained earnings	63,500		27,000
Total	$311,500		$210,500

Additional data related to 2022 are as follows:

1. Equipment that had cost $15,000 and had accumulated depreciation of 9,500 at time of disposal was sold for $4,000 in cash.
2. Common stock was issued in exchange for $20,000 cash.
3. Cash dividends were paid.
4. Investments were purchased for $5,000 in cash.
5. Cash of $26,500 was paid for the acquisition of equipment.
6. A long-term note for $60,000 was issued for the acquisition of a building.
7. Depreciation expense for the year is $9,700.
8. Net Income for the year is $56,000.

Required:

Prepare a statement of cash flows, using the indirect method. Include all required disclosures.