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Presented below are the financial statements of Grouper Company. Grouper Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 91,000 Accounts receivable 52.000 Inventory
Presented below are the financial statements of Grouper Company. Grouper Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 91,000 Accounts receivable 52.000 Inventory 72,800 Property, plant, and equipment 156,000 Accumulated depreciation (83.200) 2021 $ 52,000 36.400 52,000 202,800 162.400) Total $288,600 $280.800 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable $49.400 18.200 44,200 46,800 130,000 $288,600 $39,000 20.800 85,800 36,400 98,800 $280,800 Common stock Retained earnings Total Grouper Company Income Statement For the Year Ended December 31, 2022 $629,200 Sales revenue Cost of goods sold Gross profit Selling expenses Administrative expenses 455.000 174.200 $46,800 15,600 62.400 111,800 Income from operations Interest expense 7,800 Income before income taxes 104,000 20,800 Income tax expense Net income $83.200 Additional data: 1 Depreciation expense was $45,500. 2 Dividends declared and paid were $52,000. 3. During the year equipment was sold for $22,100 cash. This equipment cost $46,800 originally and had accumulated depreciation of $24,700 at the time of sale. Prepare a statement of cash flows for Grouper Company using the direct method. (Show amounts in the investing and financing sections that decrease cash flow with either - signe..-15.000 or in parenthesis e.y. (15,000) Grouper Company Statement of Cash Flows eTextbook and Media Attempts: 0 of 3 used Save for Later Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above
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