Waterway Corporation's comparative balance sheets are as follows. WATERWAY CORPORATION Comparative Balance Sheets December 31 2022 2021 Cash $16,700 $17,600 Accounts receivable 24,900 22,000 Investments 19,850 16,250 Equipment 59,950 69,950 Accumulated depreciation-equipment (14,050) (10,300) Total $107,350 $115,500 Accounts payable $14,650 $11,050 Bonds payable 10,500 30,000 Common stock 49,900 44,900 Retained earnings 32,300 29,550 Total $107,350 $115,500 Additional information: 1. Net income was $18,650. Dividends declared and paid were $15,900. 2. Equipment which cost $10,000 and had accumulated depreciation of $1,700 was sold for $3,400. 3. No noncash investing and financing activities occurred during 2022. 4. Bonds were retired at their carrying value. Prepare a statement of cash flows for 2022 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).) WATERWAY CORPORATION Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 10