The following information was taken from the financial records of the XYZ Company for 2022. End of Year Beginning of Year $391,000 $376,000 266,000 554,300 567,800 693,000 672,400 27,000 24,000 510,000 527,400 Wages Payable 39,500 36,000 The net income reported on the income staterent for the current year was $165,000, which included a gain on sale of investments of $6,000 (The investments had a book value of $10,000). Depreciation expense recorded on store equipment for the year amounted to $19,000. Change in Non-Current Assets, Non-Current Liabilities, and Equity Accounts: 1 Long-term investments Property, plant and equipment Bonds payable Common stock Cash Accounts Receivable Merchandise Inventory Prepaid Insurance Accounts Payable (creditors) $30,000 60,000 50,000 20,000 Dividends 15,000 Required: Prepare a complete Statement of Cash Flows-Using the indirect method to prepare the operating activities section

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business…