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asap plz Kingbird Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 84,000 $ 48,000 Accounts receivable 48,000 33,600 Inventory 67,200 48,000 Property,
asap plz Kingbird Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 84,000 $ 48,000 Accounts receivable 48,000 33,600 Inventory 67,200 48,000 Property, plant, and equipment 144,000 187,200 Accumulated depreciation (76,800) (57,600) Total $266,400 $259,200 Liabilities and Stockholders' Equity $ 45,600 $ 36,000 Accounts payable Income taxes payable 16,800 19,200 Bonds payable 40,800 79,200 Common stock 43,200 600 Retained earnings 120,000 91,200 Total $266,400 $259,200 Kingbird Company Income Statement For the Year Ended December 31, 2022 Sales revenue $580,800 Cost of goods sold 420,000 Gross profit 160,800 Selling expenses $43,200 Administrative expenses 14,400 57,600 Income from operations 103,200 Interest expense 7,200 Income before income taxes 96,000 Income tax expense 19,200 Net income $ 76,800 Additional data: 1 2. Depreciation expense was $42,000. Dividends declared and paid were $48,000. During the year equipment was sold for $20,400 cash. This equipment cost $43,200 originally and had accumulated depreciation of $22,800 at the time of sale, 3. Part 1 Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either as 63.-15,000 or in parenthesises. (15,0001) Kingbird Company Statement of Cash Flows Adjustments to reconcile net income to | | eTextbook and Media Attempts: 0 of 15 used Submit Awwel Safor Liter Part 2 Compute free cash flow. (Show a negative free cash flow with either a-sienes 15,000 or in parenthesis eg. (15.0001 $ Free cash flow 71
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