Income Statement

For the Year Ended Dec. $31,2022$

Additional data for $2022$ :

Sold equipment with a book value of $$38,000($ $$198,000$ cost$-$

$$160,000$ accumulated depreciation$)$ for $$78,000$ cash.

Purchased equipmerit for $$278,000$ cash.

Sold long$-$term investments for $$74,000$ cash. These investments had

an original cost of $$80,000.$

Purchased long$-$term investments for $$10,000$ cash.

Issued bonds for $$186,000$ cash.

Issued common stock for $$22,000$ cash.

Declared and paid $$52,000$ in cesh dividends:ACC $202$

Chapter $12$ Final Exam

Note: Please put your answers only in the section below the Bold Red sentence at the end o

the Required section below.

GeDoak Company's most recent balance sheet, income statement, and other important

information for $2022$ are presented below.Your answers to this problem should be placed in the space

below this line.

GeDook Company

Statement of Cash Flows

For the Year Ended December $31,2022$

Net income

Add back depreciatian experue

Add back loss on sait of long$-$term investmints:

Deduct gain on sale of equipment

increate in accoumsts receryable

Increase in irventory.

Decrease in periepaid expenser:

Decrease in accounts pyyable

Detcrease in accried liabilitits

increase in interest payable

increase in income tax payable

Cash provided by operating activities.

Proceeds from sale of equipment

Purchast of ecilpment:

Proceeds from sale of long$-$term inwestmants

Purchase of bong$-$term investinents

Cash used by investiry sctivities

Proceeds from icsuance of bonds

Procetefi from kruance of common itock

Payment of cash dividends

Cast prowided by firsanding activities

Net incresese in cash

Begintirg cath balumpe

Ending cash batarke