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it is wanting a full statement of cashflows SHERIDAN COMPANY Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 83,220 $ 25,080 Accounts receivable
it is wanting a full statement of cashflows
SHERIDAN COMPANY Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 83,220 $ 25,080 Accounts receivable 99,180 86,640 Inventories 193,800 217,740 Land 82,080 114,000 Equipment 296,400 228,000 Accumulated depreciation (75,240) (36,480) Total $679,440 $634,980 Liabilities and Stockholders' Equity Accounts payable $ 42,180 $53,580 Bonds payable 171,000 239,400 Common stock ($1 par) 246,240 198,360 Retained earnings 220,020 143,640 Total $679,440 $634,980 Additional information: 1. Net income for 2022 was $114,000. 2. Cash dividends of $37,620 were declared and paid. 3. Bonds payable amounting to $68,400 were redeemed for cash $68,400. 4. Common stock was issued for $47,880 cash. 5. Equipment that cost $57,000 and had a book value of $34,200 was sold for $41,040 during 2022; land was sold at cost. Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) SHERIDAN COMPANY Statement of Cash Flows . $ Adjustments to reconcile net income to . $Step by Step Solution
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