Question
Please help! All info is in the pictures. Question 2 of 10 Vaughn Manufacturing reported the following information for 2022. Vaughn Manufacturing Comparative Balance Sheets
Please help! All info is in the pictures.
Question 2 of 10 Vaughn Manufacturing reported the following information for 2022. Vaughn Manufacturing Comparative Balance Sheets Question 2 of10 Vaughn Manufacturing Income Statement For the Year Ended December 31, 2022 1 Sales revenue Cost of goods sold Operating expenses Interest expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income Additional information: $479,540 232,190 11,910 2,010 $942,720 725,650 217.070 65,190 $151,880 Assets Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciationbuildings Equipment Accumulated depreciationequipment Totals Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock ($1 par) Retained earnings Totals b e r 31 2022 $57,010 62,550 43,690 5,970 54,650 199,240 (21,120) 182,330 (28,580) $555,740 $43,330 -o- 100,230 231,660 180,520 $555,740 1 Change Increase/Decrease 2021 $35,650 21,800 -O_ 70,670 199,240 (14,080) 67,480 (9,970) $374,800 $40,370 10,030 150,060 60,450 113,890 $374,800 1. 2. 3. 4. 5. 6. Operating expenses include depreciation expense of $39,960. Land was sold at its book value for cash. Cash dividends of $85,250 were declared and paid in 2022. Equipment with a cost Of $ 165.380 was purchased for cash. Equipment with a cost Of $50,530 and a book value of $36,220 was sold for $34,210 cash. Bonds of $49830 were redeemed at their face value for cash. Common stock ($1 par) was issued at par for $171.210 cash. $21,360 40,750 43,690 1,960 16,020 -O_ 7,040 114,850 18,610 $2,960 10,030 49,830 171,210 66,630 Increase Increase Increase Increase Decrease No Change Increase Increase Increase Increase Decrease Decrease Increase Increase use this information to prepare a statement Of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15.000).) Va*n Qatement of Cash FlowsIndirect Method Adjustments to reconcile net income to
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started