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Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000,
Prepare a statement of cash flows for 2022 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).)
Pina Colada Corp.'s comparative balance sheets are presented below. Pina Colada Corp. Comparative Balance Sheets December 31 2022 2021 Cash $ 14,200 $ 11,000 Accounts receivable 21,500 23,500 Land 19,600 25,800 Buildings 70,100 70,100 Accumulated depreciation-buildings (15,400) (10,500) Total $110,000 $119,900 Accounts payable $ 11,900 $ 30,700 Common stock 75,900 70,600 Retained earnings 22,200 18,600 Total $110,000 $119,900 Additional information: 1. Net income was $22,500. Dividends declared and paid were $18,900. 2. No noncash investing and financing activities occurred during 2022. 3. The land was sold for cash of $4,900. Prepare a statement of cash flows for 2022 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).) Pina Colada Corp. Statement of Cash Flows $ Adjustments to reconcile net income to $ $Step by Step Solution
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