1 16.66 points A comparative balance sheet for Graco, Inc., on December 31, 2022 and 2021, follows. Additional information about the firm's financial activities during 2022 is also given below Cash + Accounts Receivable (Net) Merchandise Inventory Property, Plant, and Equipment Less: Accumulated Depreciation Total Assets GRACO, INC. Comparative Balance Sheet December 31, 2022 and 2021 Assets 2022 2021 $ 36,300 540,700 110,200 29,900 40,2001 43,308 240,000 101,000 (37,600) (19,300) $471,100 $143,600 References Liabilities and Stockholders' Equity Liabilities Accounts Payable Bonds Payable Total Liabilities Stockholders' Equity Issued in 2021 and 60,000 shares Issued In 2022) Total Stockholders' Equity Total Liabilities and Stockholders' Equity Common Stock, ($1 par. 500,000 shares authorized, 50,000 shares Retained Earnings 48,000 66,500 156,000 103,000 $206,000 $169,500 60,000 207,100 50,000 124,100 $267,100 $174,100 $471,100 $343,600 Additional information for the year follows a. Had net income of $83,000 b. Recorded $18,300 in depreciation c. Issued bonds payable with a par value of $53,000 at par and received cash d. Received $10,000 in cash for the issue of an additional 10,000 shares of $1 par value common stock e. Purchased equipment for $53,000 in cash Required: Prepere a statement of cash flows for 2022. (Amounts to be deducted should be indicated with a minus sign) GRACO, INC. Statement of Cash Plows Year Ended December 31, 2022 Cash flows from operating activities Adjustments Tota atpustments S 0 $ 0 Cash flows from investing activities 5 Cash flows from financing activities S Me Grew 4 O Additional information for the year follows: a. Had net income of $83,000. b. Recorded $18,300 in depreciation. c. Issued bonds payable with a par value of $53,000 at par and received cash. d. Received $10,000 in cash for the issue of an additional 10,000 shares of $1 par value comm e. Purchased equipment for $53,000 in cash Required: Prepare a statement of cash flows for 2022. (Amounts to be deducted should be indicated w sign.) GRACO, INC. Statement of Cash Flows Year Ended December 31, 2022 Cash flows from operating activities Net income for year Net loss for year Total adjustments Cash flows from investing activities S $ O $ 0 Cash flows from financing activities C FIOWS Year Ended December 31, 2022 Cash flows from operating activities Adjustments: Cash, December 31, 2022 Cash, January 1, 2022 Decrease in accounts payable Decrease in accounts receivable Decrease in merchandise inventory Denreciation. Cash flows from financing activities Mc Graw < Prev 1 of 3 222 Hill $ $ $ 0 Mc Gow HI GRACO, INC. Statement of Cash Flows Year Ended December 31, 2022 Cash flows from operating activities Adjustments: Depreciation Increase in accounts payable Increase in accounts receivable Increase in merchandise inventory Net decrease in cash Cash flows from financing activities $ $ S $ 0 Mc GTAW GRACO, INC. Statement of Cash Flows Year Ended December 31, 2022 Cash flows from operating activities Adjustments Net decrease in cash Net increase in cash Proceeds from issuance of bonds payable Proceeds from issuance of common stock Purchase of equipment Cash flows from financing activities $ $ $ 0 GRACO, INC. Statement of Cash Flows Year Ended December 31, 2022 Cash flows from operating activities Adjustments Total adjustments Cash flows from investing activities Cash flows from financing activities Mc Graw HIM o e 3 B C $ 0 $ 0 $ 0 0 Pre 1 of 3 Next >> 0