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Current Attempt in Progress Bridgenort AG. a greeting card romnanv. had the following statements nrenared as of December 31, 2022. BRIDGEPORT AG INCOME STATEMENT FOR
Current Attempt in Progress Bridgenort AG. a greeting card romnanv. had the following statements nrenared as of December 31, 2022. BRIDGEPORT AG INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2022 Sales revenue 333,000 \begin{tabular}{lr} Cost of goods sold & 174,000 \\ \cline { 2 } Gross profit & 159,000 \end{tabular} \begin{tabular}{lr} Operating expenses & 119,500 \\ \cline { 2 } Operating income & 39,500 \end{tabular} Interest expense 11,500 Gain on sale of equipment Income before tax 30,0002,000 Income tax expense Net income Additional information: 1. Dividends in the amount of 6,000 were declared and paid during 2022. 2. Depreciation expense and amortization expense are included in operating expenses. 3. No unrealized gains or losses have occurred on the investments during the year. 4. Equipment that had a cost of 20,100 and was 70% depreciated was sold during 2022. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a- sign e.g. - 15,000 or in parenthesis e.g. (15,000)
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