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Not sure if what I already have filled out is correct or not by the way The comparative balance sheets for Wildhorse Co. as of
Not sure if what I already have filled out is correct or not by the way
The comparative balance sheets for Wildhorse Co. as of December 31 are as follow Additional information: 1. Operating expenses include depreciation expense of $42,000 ( $25,500 of depreciation expense for buildings and $16,500 for equipment). 2. Land was sold for cash at book value. 3. Cash dividends of $52,900 were paid. 4. Net income for 2022 was $46,000. 5. Equipment was purchased for $94,800 cash. In addition, equipment costing $21,900 with a book val of $12,800 was sold for $5,800 cash. 6. 33,000 shares of $1 par value common stock were issued in exchange for land with a fair value of $33,000. Prepare a statement of cash flows for the year ended December 31, 2022, using the indirect method. (Sho amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000%.) Wildhorse Co. Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income $ Adjustments to reconcile net income to Net Cash Provided by Operating Activities ^ Depreciation Expense Increase in Inventory Decrease in Accounts Receivable Increase in Inventory Decrease in Prepaid Expenses Increase in Accounts Payable Net Cash Provided by Operating Activities Cash Flows from Investing ActivitiesStep by Step Solution
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