The Income statement, balance sheets, and additional Information for Great Adventures, Inc., are provided below. $181,150 GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net revenues Expenses Cost of goods sold $39, 300 Operating expenses 61,160 Depreciation expense 16,450 Interest expense 8,780 Income tax expense 15,300 Total expenses Net income 142.990 $ 38, 160 es GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 2022 2021 Increase (I) or Decrease (D) $ $ 241,656 49,040 8,600 1,060 $ 59,220 0 0 5,140 182,436 (I) 49,040 (1) 8,600 (I) 4,080 (D) Assets Current assets Cash Accounts receivable Inventory Other current assets Long-term assets Land Buildings Equipment Accumulated depreciation Total assets 660,000 848,000 78,480 (26.850) $1,859,986 0 0 48,000 (8.400) $109,400 660,000 (1) 848,000 (1) 30,480 (1) 18,450 (1) Liabilities and Stockholders' Equity Current liabilities: Accounts payable Tutarent nawala $ $ 27,840 an $ 3, 120 R3 24,720 (1) TAVA 09 830 15,300 25,800 683,526 830 14,160 0 31,600 1,140 (1) 25,800 (1) 651,926 (1) nounc pya Interent payable Income tax payable Other current liabilities Notes payable (current and long-term) Stockholdera equity: Common stock Paid-in capital Retained earnings Treasury stock Total liabilities and stockholders' equity 136,000 1,049,600 59,090 (130,000) $1,859,986 20,000 0 34,250 0 $109,400 116,000 (I) 1,049,600 (1) 24,840 (1) (138,000) (1) Additional Information for 2022: 1. Land of $660,000 was obtained by issuing a note payable to the seller. 2. Buildings of $848,000 and equipment of $30,480 were purchased using cash. 3. Monthly payments during the year reduced notes payable by $8,074. 4. Issued common stock for $1,160,000. 5. Purchased 11,600 shares of treasury stock for $23 per share. 6. Sold 5,600 shares of treasury stock at $24 per share. 7. Declared and paid a cash dividend of $13,320. Required: Prepare the statement of cash flows for the year ended December 31, 2022, using the Indirect method. (List cash outflows and decrease in cash as negative amounts.) GREAT ADVENTURES, INC. Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities: Net cash flow from operating activities Cash Flows from Investing Activities $ $ Net cash flow from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Cash at the beginning of the period Cash at the end of the period S Net cash flows from financing activities 0 0 Cash at the beginning of the period Cash at the end of the period Note: Noncash Activities