Condensed financial data of McKillop Corporation appear below: MCKILLOP CORPORATION Comparative Statements of Financial Position December 31 Assets Cash........ Accounts receivable.. Inventory......... Prepaid expenses.. Long-term investments.. Property, plant, and equipment.. Accumulated depreciation...... Total........ 2022 2021 $74,700 $35,000 104,000 67,000 100,000 112,000 32,000 36,000 81,000 66,000 235,000 175,000 65,000) _(60,000) $561,700 $431.000 Liabilities and Shareholders' Equity Accounts payable.... Accrued expenses payable...... Bonds payable... Common shares.. Retained earnings.... Total............ $ 93,000 $75,000 29,000 24,000 135,000 160,000 240,000 91,000 64,700 81,000 $561,700 $431,000 MCKILLOP CORPORATION Statement of Income Year Ended December 31, 2022 $500,000 Sales........ Expenses Cost of goods sold.......... Operating expenses... Depreciation expense. Interest expense..... Loss on sale of equipment.. Income before income tax..... Income tax expense.. Net income......... $295,000 65,000 17,000 18,000 3.000 398.000 102,000 15,300 $ 86,700 Additional information regarding fiscal 2022: 1. New equipment costing $85,000 was purchased for cash. 2. Old equipment costing $25,000 was sold for $10,000 cash when the carrying amount was $13,000. 3. Bonds were originally issued at face value. Bonds with a face value of $25,000 were converted into $25,000 of common shares during the year. 4. Cash dividends were declared and paid during the year. 5. Accounts payable pertain to merchandise purchases. Instructions Using the indirect method, prepare a statement of cash flows for the year ended December 31, 2022