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Bonita Industries has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to
Bonita 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 Bonita Industries for 2022 and 2021 are provided below. BALANCE SHEETS 12/31/22 12/31/21 Cashi $407000 $192000 Accounts receivable 358000 218000 Inventory 386000 482000 Property, plant and equipment $608000 $960000 Less accumulated depreciation (321000) 287000 (306000) 654000 $1438000 $1546000 Accounts payable $178000 Income taxes payable 352000 Bonds payable 358000 Common stock 208000 Retained earnings 342000 $1438000 $ 94000 392000 601000 216000 243000 $1546000
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