The income statement, balance sheets, and additional information for Great Adventures, Inc., are provided below.

GREAT ADVENTURES, INC.
Income Statement
For the year ended December 31, 2022
Net revenues:				$	204,360
Expenses:
Cost of goods sold	$	40,400
Operating expenses		74,580
Depreciation expense		20,100
Interest expense		11,523
Income tax expense		16,400
Total expenses					163,003
Net income				$	41,357

GREAT ADVENTURES, INC.
Balance Sheets
December 31, 2022 and 2021
									Increase (I) or
	2022				2021				Decrease (D)
Assets
Current assets:
Cash	$	325,650			$	51,960			$	273,690		(I)
Accounts receivable		51,020				0				51,020		(I)
Inventory		10,800				0				10,800		(I)
Other current assets		1,280				6,020				4,740		(D)
Long-term assets:
Land		880,000				0				880,000		(I)
Buildings		914,000				0				914,000		(I)
Equipment		101,140				59,000				42,140		(I)
Accumulated depreciation		(29,050	)			(8,950	)			20,100		(I)
Total assets	$	2,254,840			$	120,950
Liabilities and Stockholders Equity
Current liabilities:
Accounts payable	$	37,520			$	3,560			$	33,960		(I)
Interest payable		940				940
Income tax payable		16,400				14,380				2,020		(I)
Other current liabilities		32,400				0				32,400		(I)
Notes payable (current and long-term)		903,033				33,800				869,233		(I)
Stockholders equity:
Common stock		158,000				20,000				138,000		(I)
Paid-in capital		1,249,800				0				1,249,800		(I)
Retained earnings		60,747				35,350				25,397		(I)
Treasury stock		(204,000	)			0				(204,000	)	(I)
Total liabilities and stockholders equity	$	2,254,840			$	120,950

Additional Information for 2022:

Land of $880,000 was obtained by issuing a note payable to the seller.

Buildings of $914,000 and equipment of $42,140 were purchased using cash.

Monthly payments during the year reduced notes payable by $10,767.

Issued common stock for $1,380,000.

Purchased 13,800 shares of treasury stock for $34 per share.

Sold 7,800 shares of treasury stock at $35 per share.

Declared and paid a cash dividend of $15,960.

Required:

Prepare the statement of cash flows for the year ended December 31, 2022, using the indirect method. (List cash outflows and any decrease in cash as negative amounts.)

GREAT ADVENTURES, INC. Statement of Cash Flows For the Year Ended December 31, 2022