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I am in hurry Additional information regarding fiscal 2022: 1. Sales for the year was $500,000, cost of goods sold was $295,000. Other expenses were
I am in hurry
Additional information regarding fiscal 2022: 1. Sales for the year was $500,000, cost of goods sold was $295,000. Other expenses were as follows: operating expenses- $65,000, depreciation expense- $17,000, interest expense- $18,000; loss on sale of equipment$3,000, and income tax expense- $15,300. 2. New equipment was purchased for cash. 3. Old equipment costing $25,000 was sold for cash when the carrying amount was $13,000. 4. The company purchased long-term investments during the year. 5. Dividend were paid during the year. 6. Shares were issued for cash during the year. Shares were issued for cash during une yeai Sequired: Jsing the indirect method, prepare a statement of cash flows in good form for December 31,2Step by Step Solution
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