Winchester Brothers Inc. has the following comparative financial statements (I/S, S/RE and B/S) prepared for fiscal years: 2020, 2021, and 2022: Supplemental Information: 1) Equipment that cost $7,000 and was 22.00% depreciated was sold during fiscal year 2022. 2) Buildings that cost $9,000 and were 26.00% depreciated were sold during fiscal year 2022. 3) Cash Dividends were declared and paid during fiscal years 2021 and 2022. 4) Stock Dividends with a market value of $5,000 were declared and paid during fiscal year 2022. ) Long term debt was issued in exchange for land during fiscal year 2022. ) Investments that cost $18,000 were sold during fiscal year 2022. o Prepare a statement of cash flow for fiscal years 2021 and 2022 using the indirect method. Show all work. [HINT: Don't forget to calculate purchases and depreciation and amortization expense] Winchester Brothers Inc. Income Statement and Statement of Retained Earnings INCOME STATEMENT 12/31/2021 12/31/2022 Sales 227,360 254,643 CGs $ 125,048 $ 140,054 Gross Profit $ 102,312 114,589 Operating Expenses $ 47746 $ 53475 Income from Operations $ 54566 $ 61,114 Gain/(Loss) on sale of Investments $ - 3 1,800 Gain/(Loss) on sale of Buildings $ - % (1,332) Gain/(Loss) on sale of Equipment $ - 8 (164) Income before taxes $ 54566 $ 61419 Income taxes (tc = 21%) $ 11459 12.898 Net Income $ 43,107 $ 48,521 STATEMENT OF RETAINED EARNINGS 12/31/2021 12/31/2022 Retained Eamings BOP 38489 71,596 Net Income $ 43,107 $ 48,521 Dividends $ 10000 $ 15.000 Retained Eamings EOP 71,596 $% 105,117 Winchester Brothers Inc. Balance Sheets as of: BALANCE SHEET Assets 12/31/2020 12/31/2021 12/31/2022 Cash $ 297,921 $ 350,931 $ 182,855 AR, Gross EOY 46,690 $ 52,293 $ 58,568 AFDA 2,335 $ 2,615 $ 2,928 AR, Net 44,356 $ 49,678 $ 55,640 Inventory 18,270 $ 20,462 $ 22,918 Current Assets $ 360,547 $ 421,072 $ 261,412 Investments (AFS) EOY 50,000 $ 50,000 $ 70,750 Equipment, HC Eoy 66,000 $ 66,000 $ 117,917 Acc_Dep_Equip EOY 6.600 $ 13.200 25.942 Equipment, BV 59,400 $ 52,800 $ 91,975 Build, HC Eoy $ 92,000 $ 92,000 $ 117,917 Acc_Dep_Equip EOY 13,143 $ 26,286 $ 30,658 Buildings,BV $ 78,857 $ 65,714 $ 87,259 Land $ 33, 104 Long-term Assets 188,257 $ 168,514 $ 283,088 Total Assets $ 548,804 $ 589,586 $ 544,500 Accounts Payable 12, 180 $ 13,642 $ 15,279 Income Tax Payable 4,872 $ 5,457 $ 6,142 Current Liabilities 17,052 $ 19,098 $ 21,420 Long-term Notes Payable $ 77,263 $ 82,891 $ 76,003 Total Liabilities $ 94,315 $ 101,990 $ 97,423 Common Stock 416,000 $ 416,000 $ 341,960 Retained Earnings 38,489 $ 71,596 $ 105,117 Shareholders Equity 454,489 $ 487,596 $ 447,077 TL+TSE $ 548,804 $ 589,586 $ 544,500 Difference $