Comparative Balance Sheets December 31 2022 Assets 2021 Cash $37.900 $19.000 Accounts recevable 24.400 18,300 Inventory 30.000 22.400 59.600 77,700 Property, plant, and equipment Accumulated depreciation Total (30,000) (23.200) 5114200 $121.900 $19.000 $ 15,000 Liabilities and Stockholders Equity Accounts payabile Income Lises payable Bonds payable Common stock 7.300 8.400 26.000 42.500 18.700 13.300 Retained earnings 50.900 34500 Total $12.900 $114.200 CORONADO COMPANY Income Statement For the Year Ended December 31, 2022 Sales revenue $241,700 Cost of goods sold 176,500 Gross profit 65,200 Selling expenses $18,200 Administrative expenses 6,300 Operating expenses 24,500 Income from operations 40,700 Interest expense 3,800 Income before income taxes 36,900 Income tax expense 7,380 Net income $29,520 Additional data: 1 2 3 Depreciation expense was $15,600 Dividends declared and paid were $13,120 During the year equipment was sold for $9.300 cash. This equipment originally cost $18.100 and had accumulated depreciation of $8,800 at the time of sale, Bonds were redeemed at their carrying value. 4 5 Common stock was issued at par for cash (a) Prepare a statement of cash flows using the Indirect method (Show amounts that decrease cash flow with either a signes - 15,000 or in parenthesis es (15,0001) CORONADO COMPANY Statement of Cash Flows