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Current Attempt in Progress The following are comparative balance sheets for Waterway Company. Additional information: 1. Net income for 2022 was $101,200. 2. Depreciation expense
Current Attempt in Progress The following are comparative balance sheets for Waterway Company. Additional information: 1. Net income for 2022 was $101,200. 2. Depreciation expense was $32,000. 3. Cash dividends of $37,300 were declared and paid. 4. Bonds payable with a carrying value of $53,400 were redeemed for $53,400 cash. 5. Common stock was issued at par for $40,700 cash. 6. No equipment was sold during 2022. 7. Land was sold for its book value. Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a - sign eg. 15,000, or in parenthesis e.g. (15,000).) WATERWAY Company Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income $101200 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Increase in Accounts Receivable Decrease in Inventory Decrease in Accounts Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Land Purchase of Equipment Net Cash Used by Investing Activities Cash Flows from Financing Activities Issuance of Common Stock Redemption of Bonds Payment of Cash Dividends Net Cash Used by Financing Activities Net Increase in Cash Cash at Beginning of Period Cash at End of Period $32000
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