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Presented here are the financial statements of Blossom Company. Blossom Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash Accounts receivable Inventory Property, plant,
Presented here are the financial statements of Blossom Company. Blossom Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total $36,900 32,700 29,100 59,600 (29,700 ). $128,600 $20,000 18,300 20,000 78,000 (23,000). $113,300 $28,400 7,200 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings 26,200 $16,700 8,200 32,700 13,900 41,800 $113,300 17,200 49,600 $128,600 Total Prepare a statement of cash flows 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).) Blossom Company Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income $ 30560 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense $ 16300 Increase in Accounts Receivable Increase in Inventory Increase in Accounts Payable Decrease in Income Taxes Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Equipment Cash Flows from Financing Activities Payment of Dividends Issuance of Common Stock Redemption of Bonds Net Cash Used by Financing Activities Net Increase in Cash Cash at Beginning of Period Cash at End of Period $
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