The following data are taken from the records of Mashreq Manufacturing Company

	31 December, 2022	31 December, 2021
Cash	$ 30,000	$ 20,000
Current assets other than cash	170,000	116,000
Long-term investments	20,000	106,000
Plant assets	670,000	430,000
	$ 890,000	$ 672,000
Accumulated depreciation	40,000	80,000
Current liabilities	80,000	44,000
Bonds payable	150,000	-
Share capital- ordinary	508,000	508,000
Retained Earnings	112,000	40,000
	890,000	672,000

Additional Information:

1.Held- for-collection investments carried at a cost of $86,000 on 31 December,2021, were

sold in 2022for $68,000. The loss was incorrectly charged directly to Retained Earnings.

2.Plant assets that cost $120,000 and were 80% depreciated were sold during 2022 for

$16,000. The loss was incorrectly charged directly to Retained Earnings.

3.Net income reported on the income statement for the year was $118,000.

4.Dividends paid amounted to $20,000.

5.Depreciation charged for the year was $56,000.

Required:

Prepare a statement of cash flows for the year 2022 using indirect method in proper form.

Show your workings.