2. Presented below are data from the records of Metro Co. 2022 Cash 15,000 2021 8,000...
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2. Presented below are data from the records of Metro Co. 2022 Cash 15,000 2021 8,000 Accounts receivable 85,000 60,000 Long-term investment 10,000 53,000 Machine and equipment 335,000 215,000 Building 500,000 0 Accumulated depreciation 20,000 40,000 Accounts payable 40,000 22,000 Bonds payable I 75,000 0 Common stock 754,000 254,000 Retained earnings 56,000 20,000 Additional information: 1. Held-to-maturity securities (long-term investment) carried at a cost of $43,000 on December 31, 2021, were sold in 2022 for $34,000. 2. Equipment that cost $50,000 and 80% depreciated was sold in 2022 for $8,000. 3. Net income was $46,000 and $50,000 for 2022 and 2021, respectively. 4. Dividends paid amounted to $10,000. 5. A building was purchased at $500,000 on December 31, 2022 by issuing common stock at par 6. Transactions other than the purchase of a building were made in cash. an the purchase o Prepare a statement of cash flows for the year 2022. Use the indirect method for the operating activities. *Be sure to prepare the investing and financing activities as well. 2. Presented below are data from the records of Metro Co. 2022 Cash 15,000 2021 8,000 Accounts receivable 85,000 60,000 Long-term investment 10,000 53,000 Machine and equipment 335,000 215,000 Building 500,000 0 Accumulated depreciation 20,000 40,000 Accounts payable 40,000 22,000 Bonds payable I 75,000 0 Common stock 754,000 254,000 Retained earnings 56,000 20,000 Additional information: 1. Held-to-maturity securities (long-term investment) carried at a cost of $43,000 on December 31, 2021, were sold in 2022 for $34,000. 2. Equipment that cost $50,000 and 80% depreciated was sold in 2022 for $8,000. 3. Net income was $46,000 and $50,000 for 2022 and 2021, respectively. 4. Dividends paid amounted to $10,000. 5. A building was purchased at $500,000 on December 31, 2022 by issuing common stock at par 6. Transactions other than the purchase of a building were made in cash. an the purchase o Prepare a statement of cash flows for the year 2022. Use the indirect method for the operating activities. *Be sure to prepare the investing and financing activities as well.
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