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please print out and fill in The comparative balance sheets for Teal Mountain Corporation appear below: TEAL MOUNTAIN CORPORATION Comparative Balance Sheet Assets Cash Accounts
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The comparative balance sheets for Teal Mountain Corporation appear below: TEAL MOUNTAIN CORPORATION Comparative Balance Sheet Assets Cash Accounts receivable (net) Prepaid insurance Land Equipment Accumulated depreciation Total assets Liabilities and Stockholder's Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholder's equity 2022 $39,400 81,000 27,000 21,500 74,500 (18,400 $225,000 2021 $31,200 67.000 16,500 40,000 66,000 (14,300 $206,400 $16,000 29,200 150,000 29,800 $225,000 $7,500 15,100 110,000 73,800 $206,400 Additional information: 1. Net loss for 2022 is $12,000. Net sales for 2022 are $290,000. 2. Cash dividends of $15,700 were declared and paid in 2022. 3. Land was sold for cash at a loss of $2,200. This was the only land transaction during the year. 4. Equipment with a cost of $16,800 and accumulated depreciation of $9,700 was sold for $7,100 cash. 5. $13,100 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 $29,000. Prepare a statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis eg. (15,000). Do not leave any answer field blank. Enter for amounts.) TEAL MOUNTAIN CORPORATION Statement of Cash Flows For the Year Ended December 31. 2022 $ Adjustments to reconcile net income to $ $ VStep by Step Solution
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