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Martinez Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 176,800 $57.200 Accounts receivable 228,800 197,600 Inventory 434,200 Land Equipment 205,000 676.000 (171,600
Martinez Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 176,800 $57.200 Accounts receivable 228,800 197,600 Inventory 434,200 Land Equipment 205,000 676.000 (171,600 $1552,200 491.400 260.000 520.000 (83.200) $1448.000 Accumulated depreciation equipment Total Liabilities and Stockholders Equity Accounts payable $ 101.400 $111.800 Bonds payable 390,000 $20.000 Common stock (51 pan Retained earnings 561600 499.200 $1552 200 2.400 318.800 143.00 Total additional information: 1. Net income for 2022 was $241,800. 2 Depreciation expense was $88,400. 3. Cash dividends of $101,400 were declared and paid. 4. Bonds payable amounting to $130,000 were redeemed for cash $130,000. 5. Common stock was issued for $109,200 cash. 6. No equipment was sold during 2022 7. Land was sold for its book value. Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a - signes. -45,000, or in Martinez Company Statement of Cash Flows
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