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Cape be CULLUMBER COMPANY Comparative Balance Shee O21.2002 Dec. 31,2021 $37.000 $12.500 Accounts me 21000 14300 28.000 1500 2500 12,000 Long net 20000 64.500 34.500
Cape be CULLUMBER COMPANY Comparative Balance Shee O21.2002 Dec. 31,2021 $37.000 $12.500 Accounts me 21000 14300 28.000 1500 2500 12,000 Long net 20000 64.500 34.500 3000 5500 $135.000 $300 Labs and S Account $20,000 A300 37500 48000 42000 34500 34.500 14300 $135,000 CULLUMBER COMPANY Statement of Cash Flow A comparative balance sheet for Cullumber Company appears below: CULLUMBER COMPANY Comparative Balance Sheet Dec. 31, 2022 Dec. 31, 2021 Assets Cash Accounts receivable $37,000 $12,500 21,000 14,500 Inventory Prepaid expenses Long-term investments Equipment 28,000 18.500 7,500 12,000 0 20,000 64,500 34,500 Accumulated depreciation-equipment Total assets (23,000) (16.500) $135,000 $95,500 Liabilities and Stockholder's Equity Accounts payable $20,000 $8,500 Bonds payable 37.500 48,000 Common stock i 43,000 24,500 Retained earnings 34,500 14,500 Total liabilities and stockholders' equity $135,000 $95.500 Additional information: 1. Net income for the year ending December 31, 2022 was $36,500. 2. Cash dividends of $16,500 were declared and paid during the year. 3. 4. Long-term investments that had a cost of $20,000 were sold for $15,500. Sales for 2022 were $121,500. 5. No equipment was sold during the year. Prepare a statement of cash flows for the year ended December 31, 2022 using the indirect method. (SHOW amounts DADE flow with either a sign es-15,000 or in parenthesis es (15,000)) CULLUMBER COMPANY Statement of Cash Flows Adjustments to reconcile net income to
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