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Coronado Industries has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to have prepared is a statement of cash flows. Financial statements of Coronado Industries for 2022 and 2021 are provided below.

BALANCE SHEETS
						12/31/22					12/31/21
	Cash					$409000					$ 192000
	Accounts receivable					359000					218000
	Inventory					386000					481000
	Property, plant and equipment		$609000					$961000
	Less accumulated depreciation		(319000	)		290000		(302000	)		659000
						$1444000					$1550000
.
	Accounts payable					$ 178000					$ 94000
	Income taxes payable					352000					394000
	Bonds payable					361000					600000
	Common stock					217000					217000
	Retained earnings					336000					245000
						$1444000					$1550000

INCOME STATEMENT For the Year Ended December 31, 2022
	Sales revenue								$8400000
	Cost of sales								7153000
	Gross profit								1247000
	Selling expenses						$601000
	Administrative expenses						190000		791000
	Income from operations								456000
	Interest expense								70000
	Income before taxes								386000
	Income taxes								96000
	Net income								$ 290000

The following additional data were provided:

	1.	Dividends for the year 2022 were $199000.
	2.	During the year, equipment was sold for $238000. This equipment cost $352000 originally and had a book value of $290000 at the time of sale. The loss on sale was incorrectly charged to cost of sales.
	3.	All depreciation expense is in the selling expense category.

The net cash provided (used) by financing activities is

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