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Condensed financial data of Pina Colada Corp. follow. Pina Colada Corp. Comparative Balance Sheets December 31 Assets 2022 Cash $117,100 Accounts receivable 93,000 Inventory 111,400
Condensed financial data of Pina Colada Corp. follow. Pina Colada Corp. Comparative Balance Sheets December 31 Assets 2022 Cash $117,100 Accounts receivable 93,000 Inventory 111,400 Prepaid expenses 30,000 Long-term investments 141,000 Plant assets 274.700 Accumulated depreciation (46.100) Total $721,100 2021 $47,400 32,700 102,700 25,300 113,100 241,500 (51,500) $511,200 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $111,300 16,100 118.400 220.900 254,400 $721,100 $67.100 17.400 149.600 174,000 103,100 $511,200 Question 2 of 3 Bonds payable Common stock Retained earnings Total 118,400 220,900 254,400 $721,100 149,600 174,000 103,100 $511,200 $391,600 Pina Colada Corp. Income Statement For the Year Ended December 31, 2022 Sales revenue Less Cost of goods sold $134,600 Operating expenses, excluding depreciation 12,200 Depreciation expense 30.600 Income tax expense 27.500 Interest expense 5,000 Loss on disposal of plant assets 7.500 Net income 217.400 $174,200 Additional information: CO. hairaintha Additional information: 1 2. 3 4 New plant assets costing $79,700 were purchased for cash during the year, Old plant assets having an original cost of $46,500 and accumulated depreciation of $36,000 were sold for $3,000 cash. Bonds payable matured and were paid off at face value for cash A cash dividend of $22,900 was declared and paid during the year Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow With either a- skanes. -15,000 or in parenthesis eg (15,000) Pina Colada Corp Statement of Cash Flows Adjustments to reconcile net income to . || $
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