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Prepare a statement of cash flows help! I need to make sure I did my SCF correctly Balance Sheets Cash Accounts receivable Inventory Long-term investments

Prepare a statement of cash flows

help! I need to make sure I did my SCF correctlyimage text in transcribed

Balance Sheets Cash Accounts receivable Inventory Long-term investments Property, plant & equipment Accumulated depreciation December 31 Change 2022 2021 $ 35,900 $ 10,200 25,700 38,300 20,300 18,000 35,000 42,000 (7,000) 0 15,000 (15,000) 236,500 150,000 86,500 (37,700) (25,000) 12,700 $308.000 $212.500 Accounts payable Accrued liabilities Long-term notes payable Common stock Contributed capital in excess of par value Retained earnings $ 17,000 21,000 70,000 100,000 30,000 70,000 $308.000 $ 26,500 (9,500) 17,000 4,000 50,000 20,000 70,000 30,000 20,000 10,000 29,000 41,000 $212.500 Additional for 2022: 1. Net income for the year, $71,000. 2. Depreciation on property, plant, and equipment for the year, $12,700. 3. Sold the long-term investments for $28,000 4. Paid dividends of $30,000. 5. Purchased machinery costing $26,500, paid cash. 6. Purchased machinery and gave a $60,000 long-term note payable. 7. Paid a $40,000 long-term note payable by issuing common stock. Instructions Prepare a statement of cash flows using the indirect method for 2022 for Benedict Company

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