Waterway Industries reported the following information for 2022.

Waterway Industries Comparative Balance Sheets December 31
Assets		2022			2021			Change Increase/Decrease
Cash		$171,100			$104,400			$66,700	Increase
Accounts receivable		179,800			63,800			116,000	Increase
Inventory		127,600			0			127,600	Increase
Prepaid expenses		17,400			11,600			5,800	Increase
Land		159,500			203,000			43,500	Decrease
Buildings		580,000			580,000			0
Accumulated depreciationbuildings		(60,900	)		(40,600	)		20,300	Increase
Equipment		530,700			197,200			333,500	Increase
Accumulated depreciationequipment		(81,200	)		(29,000	)		52,200	Increase
Totals		$1,624,000			$1,090,400
Liabilities and Stockholders Equity
Accounts payable		$124,700			$116,000			$8,700	Increase
Accrued expenses payable		0			29,000			29,000	Decrease
Bonds payable		290,000			435,000			145,000	Decrease
Common stock ($1 par)		667,000			174,000			493,000	Increase
Retained earnings		542,300			336,400			205,900	Increase
Totals		$1,624,000			$1,090,400

Waterway Industries Income Statement For the Year Ended December 31, 2022
Sales revenue				$2,728,900
Cost of goods sold		$1,377,500
Operating expenses		669,900
Interest expense		34,800
Loss on disposal of equipment		5,800		2,088,000
Income before income taxes				640,900
Income tax expense				188,500
Net income				$452,400

Additional information:
1.		Operating expenses include depreciation expense of $116,000.
2.		Land was sold at its book value for cash.
3.		Cash dividends of $246,500 were declared and paid in 2022.
4.		Equipment with a cost of $481,400 was purchased for cash. Equipment with a cost of $147,900 and a book value of $104,400 was sold for $98,600 cash.
5.		Bonds of $145,000 were redeemed at their face value for cash.
6.		Common stock ($1 par) of $493,000 was issued for 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).)

Waterway Industries Statement of Cash Flows-Indirect Method For the Year Ended Dec Adjustments to reconcile net income to