The comparative balance sheets for Vaughn Manufacturing as of December 31 are presented below. Vaughn Manufacturing Comparative Balance Sheets December 31 Assets 2022 Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Total $ 74,800 55,000 166,595 16,808 159,500 220,000 (66,000) 247,500 (49,500) 2021 $ 49,500 63,800 156,200 23,100 143,000 220,000 (44,000) 170,500 (38,500) $743,600 $824,703 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock, $1 par Retained earnings $ 39,600 330.000 $ 49,203 330,000 220,000 225,500 176,000 198,000 Retained earnings Total 225,500 $824,703 198,000 $743,600 Additional information: 1. 2. 3. Operating expenses include depreciation expense of $46,200 ($22,000 of depreciation expense for buildings and $24,200 for equipment). Land was sold for cash at book value. Cash dividends of $13,200 were paid. Net income for 2022 was $40,700. Equipment was purchased for $101,200 cash. In addition, equipment costing $24,200 with a book value of $11,000 was sold for $8,800 cash. 44,000 shares of $1 par value common stock were issued in exchange for land with a fair value of $44,000. 4. 5. 6. Prepare a statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis eg. (15,000).) Vaughn Manufacturing Statement of Cash Flows Vaughn Manufacturing Statement of Cash Flows $ Adjustments to reconcile net income to