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Lily Corporation's comparative balance sheets are presented below. Additional information: 1. Net income was $22,600. Dividends declared and paid were $18,600. 2. No noncash investing
Lily Corporation's comparative balance sheets are presented below. Additional information: 1. Net income was $22,600. Dividends declared and paid were $18,600. 2. No noncash investing and financing activities occurred during 2022. 3. The land was sold for cash of $4,700. 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).) LILY CORPORATION Statement of Cash Flows $ stments to reconcile net income to \begin{tabular}{rr|} \hline & $ \\ \hline+ & \\ \hline \end{tabular} Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Free cash flow $
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