Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 70,720 $ 46,800 Accounts receivable 52,000 60,320 Inventory 157.508 147,680 Prepaid expenses 15,891 21,840 Land 150,800 135,200 Buildings 208,000 208,000 Accumulated depreciation-buildings (62,400) (41,600) Equipment 4,000 161,200 Accumulated depreciation-equipment (46,800) (36,400) Total $779.719 $703,040 Liabilities and Stockholders' Equity Accounts payable $ 46,519 $ 37,440 Bonds payable 312,000 312,000 Common stock, $1 par 208,000 166,400 Retained earnings 213,200 187,200 Total $779,719 $703,040 Additional information: 1 2. 3 Operating expenses include depreciation expense of $43,680 ($20,800 of depreciation expense for buildings and $22,880 for equipment). Land was sold for cash at book value. Cash dividends of $12,480 were paid. Net income for 2022 was $38.480. Equipment was purchased for $95,680 cash. In addition, equipment costing $22.880 with a book value of $10,400 was sold for $8,320 cash. 4. 5. 6. 41,600 shares of $1 par value common stock were issued in exchange for land with a fair value of $41,600. Ch 19 HW Question 7 of 14 -/1 Prepare a statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a -sign e.g.-15,000 or in parenthesis eg. (15,000).) BLOSSOM COMPANY Statement of Cash Flows $ Adjustments to reconcile net income to A A T