The comparative balance sheets for Waterway Industries as of December 31 are presented below.

Waterway Industries Comparative Balance Sheets December 31
Assets		2022			2021
Cash		$ 80,240			$ 53,100
Accounts receivable		59,000			68,440
Inventory		178,711			167,560
Prepaid expenses		18,030			24,780
Land		171,100			153,400
Buildings		236,000			236,000
Accumulated depreciationbuildings		(70,800	)		(47,200	)
Equipment		265,500			182,900
Accumulated depreciationequipment		(53,100	)		(41,300	)
Total		$884,681			$797,680
Liabilities and Stockholders Equity
Accounts payable		$ 52,781			$ 42,480
Bonds payable		354,000			354,000
Common stock, $1 par		236,000			188,800
Retained earnings		241,900			212,400
Total		$884,681			$797,680

Additional information:

1.		Operating expenses include depreciation expense of $49,560 ($23,600 of depreciation expense for buildings and $25,960 for equipment).
2.		Land was sold for cash at book value.
3.		Cash dividends of $14,160 were paid.
4.		Net income for 2022 was $43,660.
5.		Equipment was purchased for $108,560 cash. In addition, equipment costing $25,960 with a book value of $11,800 was sold for $9,440 cash.
6.		47,200 shares of $1 par value common stock were issued in exchange for land with a fair value of $47,200.

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 e.g. (15,000).)

Waterway Industries Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income $ 43,660 43,660 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 9 $ $49,560 | Loss on Disposal of Plant Assets 16,520 Decrease in Accounts Receivable 9,440 Increase in Inventory 11,151 Decrease in Prepaid Expenses 6,750 Increase in Accounts Payable 10,301 | Net Cash Provided by Operating Activities Cash Flows from Investing Activities || Sale of Land 11,800 Sale of Equipment 9,440 Purchase of Equipment 108,560 Net Cash used by Investing Activities || 129,800 Cash Flows from Financing Activities Payment of Cash Dividends 4 14,160 Net Cash used by Financing Activities A Net Increase in Cash Cash at Beginning of Period Cash at End of Period