- Your answer is partially correct. The following information is available for Splish Brothers Inc. for the year ended December 31, 2022. Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds $65,250 5,365 234,900 11,890 15,950 411,945 50,750 17,400 6,815 419,050 37,700 290,000 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).) Splish Brothers Inc. Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income 411945 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 234900 Decrease in Accounts Payable 5365 Increase in Inventory 15950 Increase in Accounts Receivable D 1890 11890 Increase in Income Taxes Payable 6815 L 250560) 250560 Net Cash Provided by Operating Activities 662505 Cash Flows from Investing Activities Sale of Land Sale of Land C 5 50750 0750 Purchase of Building 419050 Net Cash Provided by Investing Activities - | -368300 Net Cash Provided by Investing Activities Issuance of Bonds 290000 Purchase of Treasury Stock 37700 Payment of Dividend 17400 Net Cash used by Financing Activities 234900 Net Increase in Cash Cash at Beginning of Period 65250 Cash at End of Period