Use the following financial statements and additional information to prepare a statement of cash flows for the year ended December 31, 2022 using the indirect method.

Spring is Here, Inc. Balance Sheets At December 31
	2022	2021
Assets:
Cash	$174,525	$65,200
Accounts receivable, net	52,850	56,750
Merchandise inventory	167,750	144,850
Prepaid expenses	16,080	12,680
Equipment	290,600	245,600
Accumulated depreciation-Equipment	(80,600)	(97,600)
Total assets	$621,205	$427,480
Liabilities:
Accounts payable	$55,270	$45,450
Income taxes payable	10,320	12,240
Notes payable (long term)	59,200	79,200
Total liabilities	$124,790	$136,890
Equity:
Common stock	200,000	150,000
Paid-in capital in excess of par	53,000	40,000
Retained earnings	243,415	100,590
Total equity	$426,415	$290,590
Total liabilities and equity	$621,205	$427,480

Spring is Here, Inc. Income Statement For Year Ended December 31, 2022
Sales		$613,625
Cost of goods sold	$222,540
Depreciation expense	25,000
Other operating expenses	106,260
Interest expense	6,400	(360,200)
Other gains (losses):
Gain on sale of equipment		2,850
Income before taxes		256,275
Income taxes expense		30,525
Net income		$225,750

Additional Information a. Cash dividends declared and paid were $180,625. b. New equipment is purchased for $175,000 cash. c. Received $49,550 cash for the sale of equipment.

d. Issued new shares of stock receiving $182,000 cash.