Help System Announcements Do It! Review 12-02b Whispering Winds Corp. reported the following information for 2022. Whispering Winds Corp. Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Totals Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock ($1 par) Retained earnings Totals 2022 2021 $70,800 $43,200 74,400 26,400 52,800 -0- 7,200 4,800 66,000 84,000 240,000 240,000 (25,200 ) (16,800 ) 219,600 81,600 (33,600 ) (12,000 ) $672,000 $451,200 Change Increase/Decrease $27,600 Increase 48,000 Increase 52,800 Increase 2,400 Increase 18,000 Decrease -0- 8,400 Increase 138,000 Increase 21,600 Increase $51,600 $48,000 0 12,000 120,000 180,000 276,000 72,000 224,400 139,200 $672,000 $451,200 $3,600 Increase 12,000 Decrease 60,000 Decrease 204,000 Increase 85,200 Increase 2 2:02 -020 Whispering Winds Corp. Income Statement For the Year Ended December 31, 2022 Sales revenue $1,129,200 Cost of goods sold $570,000 Operating expenses 277,200 Interest expense 14,400 Loss on disposal of equipment 2,400 864,000 income before income taxes 265,200 Income tax expense 78,000 Net Income $187,200 Study Additional information: 1. Operating expenses include depreciation expense of $48,000. 2 Land was sold at its book value for cash. 3. Cash dividends of $102,000 were declared and paid in 2022. 4. Equipment with a cost of $199,200 was purchased for cash. Equipment with a cost of $61,200 and a book value of $43,200 was sold for $40,800 cash, 5. Bonds of $60,000 were redeemed at their face value for cash. Common stock ($1 par) of $204,000 was issued for cash. 6. Use this information to prepare a statement of cash flows using the Indirect method. (Show amounts that decrease cash flow with elther a-sign .g. - (15,000).) S Whispering Winds Corp. Statement of Cash Flows-Indirect Method $ Adjustments to reconcile net income to Help System Announcements NA 11 0 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT - NOV 28