The following information is available for Oriole Company for the year ended December 31, 2022.
Beginning cash balance $ 31,200
Accounts payable increase 7,410
Depreciation expense 53,300
Accounts receivable decrease 6,240
Inventory decrease 4,030
Net income 74,360
Cash received for sale of land at book value 135,200
Cash dividends paid 49,400
Income taxes payable decrease 5,070
Cash used to purchase land 105,300
Cash used to redeem bonds 85,800
Cash received from issuing stock 208,000
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).)

Let understand that to calculate the "statement of cash flows using the indirect method", we have to calculate the Operating, Investing and Financing activities.

Statement of Cash Flows (Indirect Method)

For the Current Year Ended December 31,2022

Cash flows from operating activities:

Net Income $74,360

Adjustments to reconcile net income to

net cash provided by operating activities:

Depreciation expense $53,300

Decrease in Account Receivables $6,240

Decrease in inventory $4,030

Increase in accounts payable $7,410

Decrease in income tax payable $(5,070)

Net cash flows from operating activities $140,270

Cash flow from investing activities:

Sale of Land $135,200

Purchase of Land $(105,300)

Net cash flow from investing activities (B) $29,900

Cash flow from financing activities:

Issuance of common stock $208,000

Redemption of bonds $(85,800)

Dividend paid to shareholders $(49,400)

Net Cash flow from financing activities (C ) $72,800

Net increase(decrease) in cash $242,970

Cash balance at beginning of period $31,200

Cash at end of period $274,170

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