Using the balance sheet from the end of last year $($when the company was still a proprietorship$)$ and the balance sheet just created, prepare a cash flow statement using the indirect method. answers to the nearest whole number. Please make an income statement table, not explaing how to make it$.$Solar Electric Inc.

Income Statement

For the Year Ended December $31,2023$

Sales Revenue $$1,050,000$

Less: Sales Discounts $31,500$

Sales Returns and Allowances $52,50084,000$

Net Sales $966,000$

Cost of Goods Sold $441,000$

Gross Profit $525,000$

Operating Expenses

Depreciation Expense $$45,000$

Insurance Expense $5,800$

Maintenance Expense $36,300$

Professional Fees Expense $24,800$

Rent Expense $49,200$

Salaries Expense $80,700$

Telephone Expense $6,110$

Travel Expense $27,700$

Total Operating Expenses $275,610$

Income from operations $249,390$

Other income and expenses

Interest Revenue $16,363$

Revenue from investment in HSBC Inc. $136,640$

Unrealized gain on Fair Value Adjustment $50,700$

Interest Expense $(54,812)148,891$

Income $($loss$)$ from Continuing Operations before Income Tax Expense $398,281$

Income Tax Expense $135,415$

Income $($Loss$)$ from Continuing Operations $262,866$

Discontinued Operations

Loss from Discontinued Operations $(72,000)$

Income tax savings $-$ Discontinued Operations $24,480(47,520)$

Net Income $$215,346$

Note: No Property, Plant and Equipment was sold during the year.

Hint : Amortized bond discount or premium should be added to the operating activities, if there is any. Carrying amount of the bonds should be presented in the financing activities.