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Madigan Pets Supply Inc. has the following account balances at December 31, 2022 and 2023: December 31, 2023 December 31, 2022 Cash $1,200,000 $1,050,000 Notes
Madigan Pets Supply Inc. has the following account balances at December 31, 2022 and 2023: December 31, 2023 December 31, 2022 Cash $1,200,000 $1,050,000 Notes Receivable $200,000 $100,000 Plant Asset (net) 300,000 150,000 Long Term Security Investments $150,000 0 Bonds Payable $450,000 $350,000 Common Stock 300,000 100,000 Additional Paid-in Capital 50,000 0 Retained Earnings 200,000 150,000 Dividends Declared and Paid 20,000 18,000 Depreciation Expense (annual) 50,000 50,000 Long-term Intangible Assets(net) $6,000 $12,000 Amortization Expense (annual) $6,000 $6,000 Additional information: 1. 2023 plant asset acquisitions were paid in cash. 2. No plant assets were sold during 2023. 3. $20,000 of the notes receivable were collected during 2023. 4. No common stock was retired during 2023. 5. $50,000 in bonds were retired in 2023. All bands were issued at par value. Using the indirect method, prepare Madigan Pets Supply's investing section of the statement of cash flows for the year ending December 31, 2023
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