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Please be clear with your answer! Note: Please put your answers only in the section below the Bold Red sentence at the end of the
Please be clear with your answer!
Note: Please put your answers only in the section below the Bold Red sentence at the end of the Required section below. Income Statement For the Year Ended Dec. 31, 2022 Sales Cost of goods sold Gross margin Operating expenses Depreciation expense Operating income \begin{tabular}{|r|} \hline 1,800,000 \\ \hline 1,222,000 \\ \hline 578,000 \\ \hline 280,000 \\ \hline 270,000 \\ \hline 28,000 \\ \hline(24,000) \\ \hline 9,000 \\ \hline(3,000) \\ \hline 10,000 \\ \hline 3,000 \\ \hline 7,000 \\ \hline \end{tabular} Additional data for 2022: 1. Sold equipment with a book value of $30,000(=$198,000 cost - $168,000 accumulated depreciation) for $39,000 cash. 2. Purchased equipment for $299,000 cash. 3. Sold long-term investments for $64,000 cash. These investments had an original cost of $67,000. 4. Purchased long-term investments for $10,000 cash. 5. Issued bonds for $186,000 cash. 6. Issued common stock for $22,000 cash. 7. Declared and paid $52,000 in cash dividends. Prepare a statement of cash flows for the year ended December 31, 2022, using the ndirect method. Your answers to this open-ended assignment should be placed in the space below this line. Proceeds from issuance of bonds Proceeds from issuance of common stock Payment of cash dividends Cash provided by financing activities Net increase in cash Beginning cash balance Ending cash balanceStep by Step Solution
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