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Pina Colada Corp. Comparative Balance Sheets December 31 Accounts payable $14,450$11,050 Bonds payable 10,80030,200 Common stock Retained earnings Total Additional information: 1. Net income was
Pina Colada Corp. Comparative Balance Sheets December 31 Accounts payable $14,450$11,050 Bonds payable 10,80030,200 Common stock Retained earnings Total Additional information: 1. Net income was $18,750. Dividends declared and paid were $15,600. 2. Equipment which cost $10,100 and had accumulated depreciation of $1,900 was sold for $3,700. 3. No noncash investing and financing activities occurred during 2022. Pina Colada Corp. Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income $ 18750 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense $ Loss on disposal of Plant Assets Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Equipment Purchase of Investments Cash Flows from Financing Activities Retirement of Bonds Payment of Dividends Issuance of Common Stock Net Cash Used by Financing Activities Net Decrease in Cash Cash at Beginning of Period Cash at End of Period
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