prepare a worksheet for the state of cash flows using the indirect method. Enter the reconciling items directly in the worksheet columns.

Transcribed Image Text:

Condensed financial data of Tamarisk, Inc. are as follows. Tamarisk, Inc. Comparative Balance Sheets December 31 Assets 2022 2021 Cash $91,700 $47,600 Accounts receivable 89,500 57,900 Inventory 122,000 183,000 Investments 84,000 86,400 Equipment 250,000 205,000 Accumulated depreciation-equipment (48,200) (39,400) $589,000 $460,500 Liabilities and Stockholders' Equity Accounts payable $58,100 $ 48,300 Accrued expenses payable 12,800 18,400 Bonds payable 102,000 70,600 Common stock 251,000 201,000 Retained earnings 165,100 122,200 $589,000 $460.500 Tamarisk, Inc. Income Statement For the Year Ended December 31, 2022 Sales revenue Gain on disposal of plant assets $299,000 8,190 307,190 Condensed financial data of Tamarisk, Inc. are as follows. Tamarisk, Inc. Comparative Balance Sheets December 31 Assets 2022 2021 Cash $91,700 $47,600 Accounts receivable 89,500 57,900 Inventory 122,000 183,000 Investments 84,000 86,400 Equipment 250,000 205,000 Accumulated depreciation-equipment (48,200) (39,400) $589,000 $460,500 Liabilities and Stockholders' Equity Accounts payable $58,100 $ 48,300 Accrued expenses payable 12,800 18,400 Bonds payable 102,000 70,600 Common stock 251,000 201,000 Retained earnings 165,100 122,200 $589,000 $460.500 Tamarisk, Inc. Income Statement For the Year Ended December 31, 2022 Sales revenue Gain on disposal of plant assets $299,000 8,190 307,190

Answer rating: 100% (QA)

Based on the condensed financial data of Tamarisk Inc here are some key observations and calculation... View the full answer