The following are comparative balance sheets for Sheridan Company.

SHERIDAN Company

Comparative Balance Sheets

December $31$

Assets $20222021$

Cash $$72,900$ $$32,600$

Accounts receivable. $85,80071,300$

Inventory $170,100186,800$

Land $73,700100,200$

Equipment $259,700200,200$

Accumulated depreciation$-$equipment $(66,200)(33,700)$

Total $$596,000$ $$557,400$

Liabilities and Stockholders' Equity

Accounts payable $$35,000$ $$46,700$

Bonds payable $151,000204,000$

Common stock $($$$1$ par$)216,400175,500$

Retained earnings $193,600131,200$

Total $$596,000557,400$

Additional information:

$1.$ Net income for $2022$ was $$102,800.$

$2.$ Depreciation expense was $$32,500.$

$3.$ Cash dividends of $$40,400$ were declared and paid.

$4.$ Bonds payable with a carrying value of $$53,000$ were redeemed for $$53,000$ cash.

$5.$ Common stock was issued at par for $$40,900$ cash.

$6.$ No equipment was sold during $2022.$

$7.$Land was sold for its book value.

Prepare a statement of cash flows for $2022$ using the indirect method. $($Show amounts that decrease cash flow with either $-15,000,$ or in parenthesis e$.$g$.(15,000).)$

SHERIDAN Company

Statement of Cash Flows