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Kingbird, Inc's comparative balance sheets are presented below. Kingbird, Inc. Comparative Balance Sheets December 31 2022 2021 Cash $ 15,100 $ 10,300 Accounts receivable 21.700
Kingbird, Inc's comparative balance sheets are presented below. Kingbird, Inc. Comparative Balance Sheets December 31 2022 2021 Cash $ 15,100 $ 10,300 Accounts receivable 21.700 23,900 Land 20.200 26,300 Buildings 70.300 70,300 Accumulated depreciation-buildings (14,600) (10,000) Total $112,700 $120,800 Accounts payable $ 12,700 $31,600 Common stock 74,400 70,300 Retained earnings 25,600 18.900 Total $112.700 $120,800 Additional information: 1. Net income was $23,000. Dividends declared and paid were $16,300. 2. No noncash investing and financing activities occurred during 2022. 3. The land was sold for cash of $4,500. - / 18 Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a signes - 15,000, or in parenthesises. (15,0001) Kingbird, Inc. Statement of Cash Flows For the Month Ended December 31, 2022 Cash Flows from Operating Activities Net Income 23000 Adjustments to reconcile net income to Cash Flows from Operating Activities Depreciation Expense 4600 Sale of Land 3600 Decrease in Accounts Receivable 2200 Decrease in Accounts Payable 100 1550 Cash Flows from Operating Activities Cash Flows from resting Activities Sale of land Cash Flows from Operating Activities Cash Flows from investing Activities Sale of Land Net Cash Used by investing Activities Net Cash Used by Financing Activities
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