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Presented here are the financial statements of Oriole Company. ORIOLE COMPANY Income Statement For the Year Ended December 31, 2022 begin{tabular}{lrr} Sales revenue & &
Presented here are the financial statements of Oriole Company. ORIOLE COMPANY Income Statement For the Year Ended December 31, 2022 \begin{tabular}{lrr} Sales revenue & & $241,800 \\ Cost of goods sold & & \\ Gross profit & & 65,600 \\ & & \\ Selling expenses & $18,900 & \\ Administrative expenses & 4,500 & \\ \cline { 2 - 3 } Operating expenses & & 23,400 \\ \hline Income from operations & 42,200 \\ Interest expense & 2,200 \\ Income before income taxes & 40,000 \\ Income tax expense & 8,000 \\ Net income & $32,000 \\ \hline \end{tabular} Additional data: 1. Depreciation expense was $17,300. 2. Dividends declared and paid were $19,350. 3. During the year, equipment was sold for $9,500cash. This equipment originally cost $18,400 and had accumulated depreciation of $8,900 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. 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). Redemption of Bonds Forinterest Issuance of Common Stock Cash Flows from Financing Activitien : Net Increase in Cash Cark ot Beoinining of Period Issuance of Common Stock Cash Flows from Financing Activities Net lncrease in Cash Cashat Beginning of Period Cash at End of Period eTextbook and Media
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