The following information is available for Sage Hill Corporation for the year ended December 31, 2022.
Beginning cash balance $43,000
Accounts payable decrease 3,500
Depreciation expense 75,000
Accounts receivable increase 8,700
Inventory increase 12,100
Net income 337,000
Cash received for sale of land at book value 43,000
Sales revenue 740,000
Cash dividends paid 11,800
Income tax payable increase 4,400
Cash used to purchase building 145,000
Cash used to purchase treasury stock 33,900
Cash received from issuing bonds 258,000
Required:
1. 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).)

Statement of cash flows for the year ended December 31, 2022

Cash flow from Operating Activities

Net income                                                                      337,000

Adjustment for Non - Cash Items :

Depreciation expense                                                      75,000

Adjustment for Working Capital Items :

Accounts payable decrease                                             (3,500)

Accounts receivable increase                                           (8,700)

Inventory increase                                                             (12,100)

Income tax payable increase                                              4,400

Net Cash from Operating Activities                                392,100

Cash flow from Investing Activities

Cash received for sale of land at book value                 43,000

Cash used to purchase building                                   (145,000)

Net Cash from Investing Activities                                (102,000)

Cash flow from Financing  Activities

Cash dividends paid                                                         (11,800)

Cash used to purchase treasury stock                          (33,900)

Cash received from issuing bonds                                258,000

Net Cash from Financing Activities                                212,300

Movement During the year                                             502,400

Cash and Cash Equivalents at Beginning of the year    43,000

Cash and Cash Equivalents at End of the year             545,400

Explanation:

Prepare the Cash flow Statement under the following headings :

the answer should be a)