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Given below is the financial information for Redwood Distributions Inc. Balance Sheet Accrued Expenses 30,000 35,000 Income Taxes Payable 15,000 10,000 Bonds Payable (2023) 800,000
Given below is the financial information for Redwood Distributions Inc. Balance Sheet Accrued Expenses 30,000 35,000 Income Taxes Payable 15,000 10,000 Bonds Payable (2023) 800,000 700,000 Common Stock (100,000 shares ) 300,000 400,000 Retained Earnings ( $300,000 dividend paid in 2022) Total Liabilities' and Shareholders' Equity $1,610,000$1,665,000 Redwood Distributions Inc. Income Statement For the Year Ended December 31, 2022 Sales $6,500,000 Less: Cost of Goods Sold Gross Profit 1,700,000 Less: Selling, General \& Administrative Expenses Operating profit 1,140,000 Required: Prepare a Statement of Cash flow for the year ended December 31, 2022 [20 Marks]
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