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please help asap! Question 4 of 10 125 MARIN CORPORATION Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating
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Question 4 of 10 125 MARIN CORPORATION Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Incone i (Loss) S12,600 Adjustments to reconcile net income to Net Cash Provided by Operating Activities 0 Depreciation Expense $ Loss on Disposal of Plant Assets Increase in Accounts Receivable Increase in Prepaid Insurance Increase in Acoounts Piyable Net Cash Provided by Operating Activities $ Cach Flows from Investing Artivities Proceeds from the Sale of Land Proceeds from the Sale of Equipment Net Cash Provided to Imesting Activities o Cash Flows from Firancing Activities Retirement of Bonds Payable Issuance of Bonds Payable Payment of Dividends Net Cash Used by Financing Activities Current Attempt in Progress The comparative balance sheets for Marin Corporation appear below: Additional information: 1. Net loss for 2022 is $12,000. Net sales for 2022 are $340,000. 2. Cash dividends of $17,500 were declared and paid in 2022 . 3. Land was sold for cash at a loss of $3,000. This was the only land transaction during the year. 4. Equipment with a cost of $15,900 and accumulated depreciation of $11,600 was sold for $5,100 cash. 5. $15,000 of bonds were retired during the year at carrying (book) value. 6. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $25,000. Prepare a statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease Zash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000). Do not leave any answer field blank. Enter 0 for amounts.)Step by Step Solution
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