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pls help Statement of Cash Flows (indirect Method) begin{tabular}{|c|c|c|} hline begin{tabular}{l} Ferdinand, Inc. Comparative Balance Sheets December 31, 2022 and 2021 end{tabular} &
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Statement of Cash Flows (indirect Method) \begin{tabular}{|c|c|c|} \hline \begin{tabular}{l} Ferdinand, Inc. \\ Comparative Balance Sheets \\ December 31, 2022 and 2021 \end{tabular} & & \\ \hline & 2022 & 2021 \\ \hline \multicolumn{3}{|l|}{ Assets } \\ \hline \multicolumn{3}{|l|}{ Current assets: } \\ \hline Cash and cash equivalents... & \$ 3,575 & S 750 \\ \hline & 5,000 & 6,250 \\ \hline & 5,000 & 5,200 \\ \hline Prepaid rent ......... & 50 & 250 \\ \hline Interest receivable ......... & 425 & 625 \\ \hline Total current assets ........ & 14,050 & 13,075 \\ \hline \multicolumn{3}{|l|}{ Noncurrent assets: } \\ \hline \multicolumn{3}{|l|}{ Property, plant, and equipment } \\ \hline Land ................ & 5,000 & 750 \\ \hline Equipment........ & 6,250 & 9,250 \\ \hline Less: Accurrulated depreciation: equipment. & (2,250) & (3,000) \\ \hline Total property, plant, and equipment. ..... & 9,000 & 7,000 \\ \hline & & $20,075 \\ \hline \multicolumn{3}{|l|}{ Liabilities and Equity } \\ \hline \multicolumn{3}{|l|}{ Current labilities: } \\ \hline Accounts payable & $4,300 & $4,500 \\ \hline Iterest payable.......... & 250 & 300 \\ \hline hcome tax payable ....... & 500 & 650 \\ \hline & 5,050 & 5,450 \\ \hline \multicolumn{3}{|l|}{ Noncurrent liabilities: } \\ \hline Notes payable..... & 125 & - \\ \hline Longterm debt ........ & 1,375 & 1,250 \\ \hline Total noncurrent labilites. ........... & 1,500 & 1,250 \\ \hline & 6,550 & 6,700 \\ \hline \multicolumn{3}{|l|}{ Equity: } \\ \hline Common stock . ......... & 8,750 & 7,500 \\ \hline Retained earnings & 7,750 & 5,875 \\ \hline & 16,500 & 13,375 \\ \hline Total labilities and equity & & \\ \hline \end{tabular} Statement of Cash Flows Chapter 14 707 Additional information: a. Ferdinand, Inc. purchased land at the cost of $4,250. The payment was made with $4,125 cash and $125 of notes payable, which was not paid yet at the end of 2022. b. Ferdinand, Inc. sold one piece of equipment at the price of $1,500, where its original cost and accumulated depreciation were $3,000 and $2,000, respectively. c. Ferdinand, Inc, repaid long-term debt at $500, and refinanced $625. d. Ferdinand, Inc. issued an additional 1,250 shares of common stock at par value of $1. e. Ferdinand, Inc. paid cash dividends of $1,275. f. To date, Ferdinand, Inc. has consistently dassified interest payments and receipts as operating activities, and dividend payments as financing activities. Instruction Prepare a statement of cash flows of Ferdinand, Inc. for 2022 using the indirect method Step by Step Solution
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