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please answer and label all parts clearly. Condensed financial data of Sheffield Corp. follow. Question 9 of 12 Liabilities and Stockholders' Equity Sheffield Corp. Income
please answer and label all parts clearly.
Condensed financial data of Sheffield Corp. follow. Question 9 of 12 Liabilities and Stockholders' Equity Sheffield Corp. Income Statement For the Year Ended December 31, 2022 Sales revenue $392,900 Less: Question 9 of 12 Sheffield Corp. Income Statement For the Year Ended December 31, 2022 Sales revenue $392,900 Less: Cost of goods sold $136,000 Operatingexpenses,excludingdepreciation12,700 Depreciationexpense31,000 Income tax expense 27,600 Interestexpense4,400 Loss on disposal of plant assets Net income 7,500$173,700219,200 Additional information: 1. New plant assets costing $79.900 were purchased for cash during the year. 2. Old plant assets having an original cost of $47,800 and accumulated depreciation of $37,400 were sold for $2,900 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $28,800 was declared and paid during the year. 5. Common stock was issued at par for cash. 6. There were no significant noncash transactions. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a5 sign eg. 15,000 or in p. Question 9 of 12 Sheffield Corp. Statement of Cash Flows - Indirect Method Adjustments to reconcile net income to $ Question 9 of 12 Adjustments to reconcile net income to $ Step by Step Solution
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