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Condensed financial data of Waterway Inc. follow. WATERWAY INC. Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 84.700 $50.800 37,000 88.400 113.000 101,200
Condensed financial data of Waterway Inc. follow. WATERWAY INC. Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 84.700 $50.800 37,000 88.400 113.000 101,200 29.900 27.500 Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 139,800 113.500 241,200 285.600 (47.200) $ 694,200 (49.300) $ 521,900 $ 66,100 Liabilities and Stockholders Equity Accounts payable Accrued expenses payable Bonds payable $ 110,500 16.100 21.500 118,700 149,600 Common stock 219,400 174.500 Retained earnings 229,500 110.200 Total $694,200 $ 521.900 WATERWAY INC. Income Statement For the Year Ended December 31, 2022 Sales revenue $ 380,100 Less: $ 134.900 12.400 48,800 Cost of goods sold Operating expenses, excluding depreciation Depreciation expense Income tax expense Interest expense Loss on disposal of plant assets Net income 26,900 4,100 5,200 232,300 $ 147,800 Additional information: 1. 2. 3. New plant assets costing $ 101,800 were purchased for cash during the year. Old plant assets having an original cost of $ 57,400 and accumulated depreciation of $ 50,900 were sold for $1,300 cash. Bonds payable matured and were paid off at face value for cash A cash dividend of $ 28,500 was declared and paid during the year. Common stock was issued at per for cash. There were no significant noncash transactions. 5. 6. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-signe.g.-15,000 or in parenthesis eg. (15,000).) WATERWAY INC. Statement of Cash Flows Adjustments to reconcile net income to > > A > >
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