ACC

Condensed financial data of Metlock Inc follow. Metlock, Inc. Comparative Balance Sheets December 31 Assets 2021 Cash $115,800 $48,500 Accounts receivable 91,200 33,000 Inventory 111.900 102.400 Prepaid expenses 29.600 25.500 Long-term investments 139.000 114.700 Plant assets 275.100 242.400 Accumulated depreciation (47.500) (52.100) Total $715.100 $S14.400 h Liabilities and Stockholders' Equity Accounts payable $111.700 $67.400 Accrued expenses payable 16.100 17.400 Bonds payable 116.800 149.400 Common stock 176.000 Question 9 of 12 comparative vatance TICES December 31 Assets 2022 2021 Cash $115,800 $48,500 Accounts receivable 91,200 33.000 Inventory 111.900 102,400 Prepaid expenses 29,600 25,500 Long-term investments 139.000 114,700 Plant assets 275.100 242 400 Accumulated depreciation (47.500) (52,100) Total $715.100 $514.400 Liabilities and Stockholders' Equity Accounts payable $111.700 $67.400 Accrued expenses payable 16.100 17.400 Bonds payable 116.800 149 400 Common stock 219 400 176 000 Retained earnings 251.100 104 200 Total $715.100 $5.4.400 199+ Question 9 of 12 Metlock, Inc. Income Statement For the Year Ended December 31, 2022 Sales revenue $392,500 Less: Cost of goods sold $135,600 Operating expenses, excluding depreciation 11.000 Depreciation expense 32.100 Income tax expense 26.900 Interest expense 4,600 Loss on disposal of plant assets 7.500 217.700 Net income $174.800 Additional information: New plant assets costing $79.500 were purchased for cash during the year. Old plant assets having an original cost of $46.800 and accumulated depreciatio Bonds payable matured and were paid off at face value for cash. A cash dividend of $27:900 was declared and paid during the year. 5 Common stock was issued at per for cash. Additional information: 1 New plant assets casting $79,500 were purchased for cash during the year. 2 Old plant assets having an original cost of $46,800 and accumulated depreciation of $36,700 were sold for $2,600 cash. 3 Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $27,900 was declared and paid during the year. 5. Common stock was issued at par for cash. 6. There were no significant noncash transactions, Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15.000 or in parenthesis eg. (15,000)) Metlock, Inc. Statement of Cash Flows - Indirect Method $ Adjustments to reconcile net income to 95% (99+ board -4 Guys Curved Hem... Q Chapters 18-20 Flas... WDC Wix ADI My Profile - PayPal WDC Wix ADI Question 9 of 12 > Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-si in parenthesis eg (15,000).) Metlock, Inc. Statement of Cash Flows - Indirect Method V Adjustments to reconcile net income to V