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Presented here are the financial statements of Skysong, Company. Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total
Presented here are the financial statements of Skysong, Company. Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,300 7,200 27,500 18,500 49,300 $130,800 $16,600 8,500 33,900 14,700 39,800 $113,500 Skysong, Company Income Statement For the Year Ended December 31, 2022 Sales revenue Cost of goods sold Gross profit Selling expenses $241,200 175,900 65,300 Additional data: 1. Depreciation expense was $16,200. 2. Dividends declared and paid were $21,140. 3. During the year equipment was sold for $7,600cash. This equipment cost $17,700 originally and had accumulated depreciation of $10,100 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 elther - sign,g - 15,000 or in parenthesis e. (15,000)]
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