a

$411500.

b

$200500.

c

$292500.

d

$242500.

Coronado Industries has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to have prepared is a statement of cash flows. Financial statements of Coronado Industries for 2022 and 2021 are provided below. BALANCE SHEETS 12/31/22 12/31/21 Cash $410000 $ 193000 Accounts receivable 358000 214000 Inventory 382000 478000 Property, plant and equipment $610000 $958000 Less accumulated depreciation (322000) 288000 (303000) 655000 $1438000 $1540000 Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $ 174000 352000 360000 221500 330500 $1438000 $ 98000 394000 600000 216000 232000 $1540000 $8410000 7153000 1257000 INCOME STATEMENT For the Year Ended December 31, 2022 Sales revenue Cost of sales Gross profit Selling expenses $602000 Administrative expenses 194000 Income from operations Interest expense Income before taxes Income taxes Net income 796000 461000 71000 390000 97500 $ 292500 The following additional data were provided: 1. Dividends for the year 2022 were $194000. 2. During the year, equipment was sold for $238000. This equipment cost $352000 originally and had a book value of $288000 at the time of sale. The loss on sale was incorrectly charged to cost of sales. 3. All depreciation expense is in the selling expense category. The net cash provided by operating activities is