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23 The following are comparative balance sheets for Hampton Company. HAMPTON COMPANY Comparative Balance Sheets December 31 Assets 2022 2021 urse nts ns Recordings sources
23 The following are comparative balance sheets for Hampton Company. HAMPTON COMPANY Comparative Balance Sheets December 31 Assets 2022 2021 urse nts ns Recordings sources valuation Cash Accounts receivable $ 83,000 $ 22,000 85,000 76,000 Inventory 175,000 189,000 Landi 75,000 100,000 g Equipment 250,000 200,000 Accumulated depreciation- terials (61,000) (32,000) equipment Total Liabilities and Stockholders' $607,000 $555,000 Equity Accounts payable. $ 39,000 $ 47,000 Liabilities and Stockholders' Equity. Accounts payable $ 39,000 $ 47,000 Bonds payable 150,000 200,000 Common stock ($1 par) 226,000 174,000 Retained earnings 192,000 134,000 Total $607,000 $555,000 Additional information: 1. Net income for 2022 was $93,000. 2. Cash dividends of $35,000 were declared and paid. 3. Bonds payable amounting to $50,000 were redeemed for cash $50,000. 4. Common stock was issued for $52,000 cash. 5. No equipment was sold during 2022 but land was sold at cost. Instructions Prepare a statement of cash flows for 2022 using the indirect method
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