Current Attempt in Progress The comparative balance sheets for kingbird Corporation appear below: KINGBIRD CORPORATION Comparative Balance Sheet Assets Cash Accounts receivable (net) Prepaid insurance Land Equipment Accumulated depreciation Total assets Liabilities and Stockholder's Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholder's equity 2022 $35.400 88,000 29,300 20.500 81,500 (15,800) $238.900 2021 $33,600 64,500 19,200 49,000 69,500 (13,000) $222,800 $24,500 25,400 148,000 41,000 $238.900 $8.100 16,200 120,000 78,500 $222.800 Retained earnings Total liabilities and stockholder's equity 41,000 $238,900 78,500 $222,800 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. Land was sold for cash at a loss of $3,500. This was the only land transaction during the year. Equipment with a cost of $17,800 and accumulated depreciation of $10,900 was sold for $6,900 cash. $12.900 of bonds were retired during the year at carrying (book) value. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $33,000. 3 4. 5. 6. 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 e.g. (15,000). Do not leave any answer field bla Enter O for amounts.) KINGBIRD CORPORATION Statement of Cash Flows + Cash Flows from Operating Activities Net Income /(Loss) $ Adjustments to reconcile net income to Cash Flows from Operating Activities Depreciation Expense $ Cash Flows from Operating Activities . Net Income /(Loss) Adjustments to reconcile net income to Cash Flows from Operating Activities Depreciation Expense Decrease in Accounts Payable Issuance of Bonds Payable A : : +