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Cleancarpet Vacuums sells vacuum accessories. At the end of 2 0 2 3 , the income statement and comparative balance sheet were prepared as shown

Cleancarpet Vacuums sells vacuum accessories. At the end of 2023, the income statement and comparative balance sheet were prepared as shown below.
Cleancarpet Vacuums
Balance Sheet
As at March 31
20232022
Assets
Current Assets
Cash $155,275 $62,900
Accounts Receivable $83,800 $91,100
Merchandise Inventory $220,000 $191,900
Prepaid Expenses $14,000 $14,000
Total Current Assets $473,075 $359,900
Noncurrent Assets
Land $0 $45,000
Equipment $334,000 $334,000
Less: Accumulated Depreciation $-25,300 $-20,700
Total Noncurrent Assets $308,700 $358,300
Total Assets $781,775 $718,200
Liabilities
Current Liabilities
Accounts Payable $49,400 $44,800
Notes Payable, Current Portion $9,700 $9,700
Total Current Liabilities $59,100 $54,500
Notes Payable, Long-Term Portion $51,300 $61,000
Total Liabilities $110,400 $115,500
Stockholders' Equity
Common Stock $144,000 $144,000
Retained Earnings $527,375 $458,700
Total Stockholders' Equity $671,375 $602,700
Total Liabilities and Equity $781,775 $718,200
Additional Information:
During 2023, land was sold for a gain of $5,600. There was no purchase of equipment throughout the year.
Cleancarpet Vacuums
Income Statement
For the Year Ended March 31,2023
Sales $558,000
Cost of Goods Sold $334,800
Gross Profit $223,200
Operating Expenses
Depreciation Expense $4,600
Other Operating Expenses $64,700
Total Operating Expenses $69,300
Income from Operations $153,900
Other Income and Expenses
Gain on Sale of Land $5,600
Income before Income Tax $159,500
Income Tax $55,825
Net Income $103,675
Create the cash flow statement using the indirect method.
Do not enter dollar signs or commas in the input boxes.
Use the negative sign for a decrease in cash.
Cleancarpet Vacuums
Cash Flow Statement
For the Year Ended March 31,2023
Cash Flow from Operating Activities
Net Income Answer
Adjustments to Reconcile Net Income to Cash
Depreciation Expense Answer
Gain on Sale of Land Answer
Changes in Operating Assets and Liabilities
Decrease in Accounts Receivable Answer
Increase in Merchandise Inventory Answer
Increase in Accounts Payable Answer
Net Cash Provided (Used) by Operating Activities Answer
Cash Flow from Investing Activities
Sale of Land Answer
Net Cash Provided (Used) by Investing Activities Answer
Cash Flow from Financing Activities
Payment of Notes Payable Answer
Payment of Cash Dividend Answer
Net Cash Provided (Used) by Financing Activities Answer
Net increase (decrease) in cash Answer
Cash at the Beginning of the Year Answer
Cash at the End of the Year Answer

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