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Current Attempt in Progress The comparative balance sheets for Marin Corporation appear below: MARIN CORPORATION Comparative Balance Sheet Cash Accounts receivable (net) Prepaid insurance Land
Current Attempt in Progress The comparative balance sheets for Marin Corporation appear below: MARIN CORPORATION Comparative Balance Sheet Cash Accounts receivable (net) Prepaid insurance Land Equipment Accumulated depreciation Total assets Liabilities and Stockholder's Equity Assets 2022 2021 $34,800 $31,200 85,500 64,500 25,900 19,600 19,000 45,500 79,500 65,000 (18,100) (15,000 ) $226,600 $210,800 Accounts payable $15,600 $6,800 Bonds payable 27,400 18,400 Common stock 146,000 119,000 Retained earnings 37,600 66,600 Total liabilities and stockholder's equity $226,600 $210,800 Additional information: 1. Net loss for 2022 is $15,000. Net sales for 2022 are $290,000. 2. Cash dividends of $19,000 were declared and paid in 2022. 3. Land was sold for cash at a loss of $3,800. This was the only land transaction during the year. 4. Equipment with a cost of $18,800 and accumulated depreciation of $11,600 was sold for $5,900 cash. 5. $13,800 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 $25,000. 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 blank. Enter O for amounts.) Adjustments to reconcile net income to MARIN CORPORATION Statement of Cash Flows For the Year Ended December 31, 2022 $ $
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