Current Attempt in Progress The comparative balance sheets for Kingbird Corporation appear below: Additional information: 1. Net loss for 2022 is $13,000. Net sales for 2022 are $290,000. 2. Cash dividends of $24,800 were declared and paid in 2022. 3. Land was sold for cash at a loss of $3,500. This was the only land transaction during the year. 4. Equipment with a cost of $17,800 and accumulated depreciation of $10,900 was sold for $5,400 cash. 5. $12,900 of bonds were retired during the year at carrying (book) value. 6. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $33,000. Prepare a statement of cash flows for the year ended December 31,2022 , using the indirect method. (Show amounts that decrea flow with either a-sign eg. 15,000 or in parenthesis eg. (15,000). Do not leave any answer field blank. Enter 0 for amounts.) KINGBIRD CORPORATION Statement of Cash Flows For the Year Ended December 31,2022. Cash Flows from Operating Activities: Net Income / (Loss) Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Loss on Disposal of Plant Assets Increase in Accounts Receivable Increase in Prepaid Insurance. Increase in Accounts Payable 16400 Cash Flows from Investing Activities Procends from the Sale of Land Proceeds trom the Sale of Equipment \begin{tabular}{|r|} \hline 25000 \\ \hline \\ \hline \end{tabular} Net Cash Used by lnvesting Activitios Cash Flows from Financing Activities Payment of Dividends Retirement of Bonds Payable Purchase of Equipment through lssuance of CommonStock: 33000 Net Cash Used by Financing Activities Purchase of Equipment through Issuance of Common Stock w 33000 Net Cash Used by Financing Activitios Net Increase in Cash Cashat Beginning of Period Cashat End of Period Noncash I mvesting and Financing Actlvities Issuance of Bonds Pryable Sivefor Later Last saved 1 hourago. Attempts: 0 of 1 used Submit Answer Saved work will be auto-submitted on the due date. Auto. submission can take up to 10 minutes
