Advanced Financial Report

ACEI-4924592 Adyanced Financial Roporting Project 25 The Balance sheets for Higgins. Hat. Ine. for the years ending December 31,2023 acid 2022 are shown bolow. 1. On January 1, 2023 Higg ns Hat, ino. declared and distributed a 10% steck dividend when the FMV Was : \$3. 00ish. 2 On December 3,2023 cash dividends of $1 per share were declared and pant 3. Delivery equipment which cost $20,000 and book value of $2,000 was sold for $1,200 4. Sold $10,000 patents for $12,000 cash 5. Issyed Bonds on Docember 31, 2023 . 6. Purchased new del-very equipment. Instruetions (a) From the information above, prepare a statement of cash flows (indirect method) for Higgins. Hat, Inc. for the year ended December 31, 2023. (b) From the information above, prepare a schedule of cash provided by operating activities using the direct method