The balance sheet and income statement for Vispara Company are presented below.

Vispara Company

Balance Sheet

As at December $31$

$20232022$

Assets

Current Assets

Cash $$133,795$ $$77,400$

Accounts Receivable $$46,700$ $$30,400$

Merchandise Inventory $$72,700$ $$44,000$

Total Current Assets $$253,195$ $$151,800$

Land $$97,000$ $$106,000$

Equipment $$101,000$ $$138,000$

Less: Accumulated Depreciation $$-50,000$ $$-65,000$

Total Assets $$401,195$ $$330,800$

Liabilities and Equity

Liabilities

Current Liabilities

Accounts Payable $$36,600$ $$66,600$

Taxes Payable $$25,900$ $$25,900$

Total Current Liabilities $$62,500$ $$92,500$

Bonds Payable $$125,100$ $$89,800$

Total Liabilities $$187,600$ $$182,300$

Shareholders' Equity

Common Shares $$76,900$ $$61,900$

Retained Earnings $$136,695$ $$86,600$

Total Shareholders' Equity $$213,595$ $$148,500$

Total Liabilities and Equity $$401,195$ $$330,800$

Notes: The company paid cash dividends during $2023.$

The company did not make a bonds payable payment during $2023.$

The company did not purchase any equipment during $2023.$

The company did not purchase any land during $2023.$

Vispara Company

Income Statement

For the Year Ended December $31,2023$

Sales $$419,000$

Cost of Goods Sold $$272,350$

Gross Profit $$146,650$

Operating Expenses

Depreciation Expense $$7,000$

Other Operating Expenses $$28,700$

Total Operating Expenses $$35,700$

Income from Operations $$110,950$

Other Income and Expenses

Interest Expense $$-5,600$

Loss on Sale of Equipment $$-5,600$

Gain on Sale of Land $$5,100$

Operating Income before Tax $$104,850$

Income Tax $$31,455$

Net Income $($Loss$)$ $$73,395$

Prepare the statement of cash flows for December $31,2023$ using the indirect method.

Do not enter dollar signs or commas in the input boxes.

Use the negative sign for a decrease in cash.