View Policies Current Attempt in Progress Windsor, Inc. reported the following information for 2022. Windsor, Inc. Comparative Balance Sheets December 31 Assets 2022 2021 Change Increase/Decrease Cash $71,520 $36,090 $35,430 Increase Accounts receivable 61,620 21,880 39,740 Increase Inventory 43,590 -0- 43,590 Increase Prepaid expenses 6,000 3,970 2,030 Increase Land 55,410 69,500 14,090 Decrease Buildings 198,460 198,460 -0- No Change Accumulated depreciation-buildings (21,195) (14,130) 7,065 Increase Equipment 181,930 68,220 113,710 Increase Accumulated depreciation-equipment (27,795) (10,000) 17,795 Increase Totals $569,540 $373,990 Liabilities and Stockholders' Equity Accounts payable $42,720 $40,400 $2,320 Increase Accrued expenses payable -0- 9,960 9,960 Decrease Bonds payable 100,600 150,970 50,370 Decrease Common stock ($1 par) 228,430 60,050 168,380 Increase Retained earnings 197,790 112,610 85,180. Increase Totals $569,540 $373,990 Windsor, Inc. Income Statement For the Year Ended December 31, 2022 Sales revenue $950,360 Cost of goods sold $470,390 Operating expenses 229,730 Interest expense 12,120 Loss on disposal of plant assets 1,980 714,220 Income before income taxes 236,140 Income tax expense 65,240 Net income $170,900 Additional information: 1. Operating expenses include depreciation expense of $39,880. 2. Land was sold at its book value for cash. 3. 4. Cash dividends of $85,720 were declared and paid in 2022. Equipment with a cost of $165,070 was purchased for cash. Equipment with a cost of $51,360 and a book value of $36,340 was sold for $34,360 cash. 5. Bonds of $50,370 were redeemed at their face value for cash. 6. Common stock ($1 par) was issued at par for $168,380 cash. Use this information to prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).) Windsor, Inc. Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to > $ > > $