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Current Attempt in Progress Waterway Industries reported the following information for 2022. Waterway Industries Comparative Balance Sheets December 31 Assets 2022 2021 Change Increase/Decrease Cash
Current Attempt in Progress Waterway Industries reported the following information for 2022. Waterway Industries Comparative Balance Sheets December 31 Assets 2022 2021 Change Increase/Decrease Cash $171,100 $104,400 $66,700 Increase Accounts receivable 179,800 63,800 116,000 Increase Inventory 127,600 -0- 127,600 Increase Prepaid expenses 17,400 11,600 5,800 Increase Land 159,500 203,000 43,500 Decrease Buildings 580,000 580,000 -0- Accumulated depreciation-buildings: (60,900 ) (40,600 ) 20,300 Increase Equipment 530,700 197,200 333,500 Increase Accumulated depreciation-equipment (81,200) (29,000) 52,200 Increase Totals $1,624,000 $1,090,400 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable $124,700 $116,000 $8,700 Increase 29,000 29,000 Decrease Accounts payable $124,700 $116,000 $8,700 Increase Accrued expenses payable 0 29,000 29,000 Decrease Bonds payable 290,000 435,000 145,000 Decrease Common stock ($1 par) 667,000 174,000 493,000 Increase Retained earnings 542,300 336,400 205,900 Increase Totals $1,624,000 $1,090,400 Waterway Industries Income Statement For the Year Ended December 31, 2022 Sales revenue Cost of goods sold Operating expenses Interest expense Loss on disposal of equipment Income before income taxes Income tax expense Net income $2,728,900 $1,377,500 669,900 34,800 5,800 2,088,000 640,900 188,500 $452,400 Additional information: 1 Operating expenses include depreciation expense of $116,000 2 Land was sold at its book value for cash 3. Cash dividends of $246,500 were declared and paid in 2022. 4. Equipment with a cost of $481.400 was purchased for cash. Equipment with a cost of $147,900 and a book value of $104,400 was sold for $98,600 cash. 5. Bonds of $145,000 were redeemed at their face value for cash 6. Common stock ($1 par) of $493,000 was issued for cash Use this information to prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign eg-15.000 or in parenthesis- Waterway Industries Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to education.wiley.com/was/ui/v2/assessment-player/index.html?launchid-17c6ed00-85 Chapter 12 Homework-Due Thursday, April 13 @ 10 pm Eastern Time Question 11 of 14 < > Common stock ($1 parl of $493.000 was for ca Use this information to prepare a statement of cash flows using the indirect method (Show amounts that decrease cash flow Waterway Industries Statement of Cash Flows-Indirect Method December 21, 2022 For the Year Ended December 21, 2022 Foi the Quarter Ended December 31,2022 Adjustments to reconcile net income to esc * 0 A 2 NO 4 Z M S #3 50 54 222 % 85 6 E R T Y D F LL 37 G H X C V B < < < < Adjustments to reconcile net income to
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