The following information was taken from the financial records of the XYZ Company for 2022.

MAKE STATEMENT OF CASH FLOW

End of Year Beginning of Year

Cash $430,000 $194,000

Accounts Receivable 355,000 368,500

Merchandise Inventory 393,500 372,900

Prepaid Insurance 37,000 34,000

Accounts Payable (creditors) 200,000 217,400

Wages Payable 44,500 41,000

The net income reported on the income statement for the current year was $300,000, which included a gain on sale of investments of $4,000 (The investments had a book value of $10,000).

Depreciation expense recorded on store equipment for the year amounted to $85,000.

Change in Non-Current Assets, Non-Current Liabilities, and Equity Accounts:

Long-term investments 20,000

Property, plant and equipment 50,000

Bonds payable 30,000

Common stock 15,000

Dividends 100,000

Required: Prepare a complete Statement of Cash Flows Using the indirect method to prepare the operating activities section (This means all sections of the statement of cash flows)

Format is important - make sure that you have appropriate spacing, indents and columns.