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help me please Exercise 11-10B Prepare a statement of cash flows-indirect method (LO11-3, 11-4, 11-5) The balance sheets for a company, along with additional Information,
help me please Exercise 11-10B Prepare a statement of cash flows-indirect method (LO11-3, 11-4, 11-5) The balance sheets for a company, along with additional Information, are provided below: Balance Sheets December 31, 2021 and 2020 2021 2020 Assets Current assets: Cash $174,600 Accounts receivable $ 155,850 75,200 88,500 Inventory 88,000 73,700 Prepaid rent 2,600 1,300 Long-term assets: Land 445,000 445,000 Equipment 738,000 635,000 Accumulated depreciation (409,000) (254,000) Total assets $1,095,650 $1,164,100 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable $ 92,000 $ 78,700 Income tax payable Long-term liabilities: 7,050 6,600 14,100 4,300 117,500 235,000 Notes payable Stockholders' equity: Common stock 665,000 665,000 Retained earnings 207,500 167,000 Total liabilities and stockholders' equity $1,095,650 $1,164,100 Additional Information for 2021: 1. Net income is $62,000. 1. Net Income is $62,000. 2. The company purchases $103,000 in equipment. 3. Depreciation expense is $155,000. 4. The company repays $117,500 in notes payable. 5. The company declares and pays a cash dividend of $21,500. Required: Prepare the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as negative amounts.) d Statement of Cash Flows For the Year Ended December 31, 2021 Cash Flows from Operating Activities ces Adjustments to reconcile net income to net cash flows from operating activities Gunu Net cash flows from operating activities Cash Flows from Investing Activities $ 0 Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Cash at the beginning of the period Cash at the end of the period $ $ 0
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