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can someone help me please 2021 P12.9A (LO2), AP Condensed financial data of Granger Inc. follow. Granger Inc. Comparative Balance Sheets December 31 2022 Assets
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2021 P12.9A (LO2), AP Condensed financial data of Granger Inc. follow. Granger Inc. Comparative Balance Sheets December 31 2022 Assets Cash $ 80,800 Accounts receivable 87,800 Inventory 112.500 Prepaid expenses 28.400 Long-term investments 138,000 Plant assets 285.000 Accumulated depreciation (50,000) Total $682.500 Liabilities and Stockholders' Equity Accounts payable $102,000 Accrued expenses payable 16,500 Bonds payable 110,000 Common stock 220,000 Retained earnings 234,000 Total $682,500 $ 48,400 38,000 102,850 26,000 109,000 242,500 (52,000 $514,750 $ 67.300 21.000 146,000 175,000 105,450 $514.750 Granger Inc. Income Statement Data For the Year Ended December 31, 2022 Sales revenue $388,460 Less: Cost of goods sold $135,460 Operating expenses, excluding depreciation 12,410 Depreciation expense 46,500 Income tax expense 27.280 Interest expense 4,730 Loss on disposal of plant assets 7,500 233,880 Net income $154,580 Additional information: 1. New plant assets costing $100,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $57,500 and accumulated depreciation of $48,500 were sold for $1,500 cash, 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $26,030 was declared and paid during the year. 5. Common stock was issued at par for cash. 6. There were no significant noncash transactions Instructions Prepare a statement of cash flows using the indirect method Step by Step Solution
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