Your answer is partially correct. The following information is available for Indigo Corporation for the year ended December 31, 2022. Beginning cash balance Accounts payable increase Depreciation expense Accounts receivable decrease Inventory decrease Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable decrease Cash used to purchase land Cash used to redeem bonds Cash received from issuing stock $ 40,800 9,690 69,700 8,160 5,270 97,240 176,800 64,600 6,630 137,700 112,200 272,000 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).) Indigo Corporation Statement of Cash Flows-Indirect Method December 31, 2022 Cash Flows from Operating Activities Net Income 97240 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense $ 69700 Decrease in Inventory 5270 Increase in Accounts Payable V 8,160 Decrease in Income Taxes Payable 9690 Decrease in Accounts Payable -6630 183430 Cash at Beginning of Period 176800 Sale of Land 176800 - 137700 39100 -64600 272000 207400 429930 Cash at Beginning of Period 40800 Cash at End of Period $ 470730 Current Attempt in Progress For its fiscal year ending October 31, 2022, Pina Colada Corp.reports the following partial data shown below. $491,400 76,440 Income before income taxes Income tax expense (20% $382.200) Income from continuing operations Loss on discontinued operations Net income 414,960 109.200 $305,760 The loss on discontinued operations was comprised of a $45,500 loss from operations and a $63,700 loss from disposal. The income tax rate is 20% on all items. Prepare a correct statement of comprehensive income, beginning with income before income taxes. PINA COLADA CORP. Partial Statement of Comprehensive Income For the Month Ended October 31, 2022 Income Before Income Taxes 491,400 Income Tax Expense Income from Continuing Operations Discontinued Operations Loss from Operations $ Loss on Disposal Net Income /(Loss) e Textbook and Media Save for Later Last saved 1 second ago. Attempts: 0 of 3 used Submit