INTERMEDIATE FINANCIAL ACCOUNTING II CHAPTER 22 HENNING COMPANY STATEMENT OF CASH FLOWS The comparative balance sheets and income statement for the Henning Company for 2022 and 2021 are presented below: Balance Sheet as of December 31, Cash Accounts receivable Inventory PPE, at cost Less accumulated depreciation Right of Use Asset Deferred tax assets Total Assets Accounts payable Income taxes payable Lease Liability Accrued pension cost Bonds payable Discount on bonds payable Common stock Additional paid in capital Retained earnings Total liabilities and stockholders' equity Cost of goods sold Wage expense Amortization expense Depreciation expense 200,000 (45,000) Pension expense Interest expense Gain on disposal of machinery Income before tax Income tax expense Net income 100,000 (7,810) 2022 58,000 10,000 32,100 Income Statement for the year ended December 31, 2022 Revenue 150,000 155,000 33,120 22,400 310.620 28,500 4,000 34,008 72,900 92,190 11,500 23,500 44,022 310.620 (70,000) (26,000) (3,680) (13,000)