Use the information below to prepare the operating section of a cash flow statement using the indirect method. (24 points) DEF, Inc. Comparative Balance Sheets As of December 31, 2022 and 2021 2022 2021 Change ASSETS: Cash 30,000 13,000 17,000 Accounts Receivable 44,000 29,000 15,000 Inventory 30,000 8,000 22,000 Property, Plant, and Equipment (PP&E) 255,000 250,000 5,000 Accumulated Depreciation (51,000) (50,000) (1,000) Total Assets 308,000 250,000 58,000 LIABILITIES AND SHAREHOLDERS' EQUITY: Accounts Payable 17,000 50,000 (33,000) Dividends Payable 28,000 8,000 20,000 Notes Payable 128,000 90,000 38,000 Common Stock 75,000 52,000 23,000 Retained Earnings 60,000 50,000 10,000 Total Liabilities and Equity 308,000 250,000 58,000 Additional information: During 2022, the company sold a piece of PP&E whose historical cost was $35,000. The proceeds from the sale were $12,000. The sale resulted in a gain of $5,000. The company reported net income for 2022 of $60,000. Dividends were declared and paid during 2022.