The following information is available for Vaughn Manufacturing for the year ended December 31, 2022. Beginning cash balance $21,600 Accounts payable increase 5,130 Depreciation expense 36,900 Accounts receivable decrease 4,320 Inventory decrease 2,790 Net income 51,480 Cash received for sale of land at book value 93,600 Cash dividends paid 34,200 Income taxes payable decrease 3,510 Cash used to purchase land 72,900 Cash used to redeem bonds 59,400 Cash received from issuing stock 144,000 Vaughn Manufacturing Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income 51480 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 36900 Decrease in Accounts Payable 5130 Increase in Accounts Receivable 4320 Increase in Inventory 2790 Increase in Income Taxes Payable 3510 Net Cash Provided by Operating Activities Cash Flows from Investing Activities Cash Flows from Investing Activities Purchase of Land Net Cash used by Investing Activities Cash Flows from Financing Activities Payment of Dividend 34200 Issuance of Stock 144000 Redemption of Bonds 59400 Net Cash used by Financing Activities Net Increase in Cash Cash at Beginning of Period Cash at End of Period