Problem 12-08A Presented below are the financial statements of Bridgeport Company Bridgeport Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 21,000 Accounts receivable 12,000 Inventory 16,800 Property, plant, and equipment 36,000 Accumulated depreciation (19,200 ) Total $66,600 2021 $ 12,000 8,400 12,000 46,800 (14,400) $64,800 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $ 11,400 4,200 10,200 10,800 30,000 $66,600 $ 9,000 4,800 19,800 8,400 22,800 $64,800 $145,200 105,000 40,200 Bridgeport Company Income Statement For the Year Ended December 31, 2022 Sales revenue Cost of goods sold Gross profit Selling expenses $10,800 Administrative expenses 3,600 Income from operations Interest expense Income before income taxes Income tax expense 14,400 25,800 1,800 24,000 4,800 $ 19,200 Net income Additional data: Depreciation expense was 3:0.500 2. Dividends declared and paid were 12.000 3. During the year equipment was cold for 35,500 cash. This equipment Co 30.000 originally and had accumulated depreciation of 95,700 the time of Accounts payable pertanto merchandio waliers. 2. All operating expenses except for depreciation were paid in Cash 3. Apreciation expenses in the wingere category 4. Asales and purchases are on account. Your wris partially comed. Try again Prepare a statement of cashows for Bridgeport Company using the direct method. (Show amounts in the investing and financing sections that decrease cash flow with other asign.p. -15.000 or in parenthesis .. (15.000 Bridport Company Setement of Cashrows for the Year Ended December 31, 2002 shows from Operating Activities Cash Recipes from Customers 21000 for Operating per -3600 DONO 2000 3900 Net Cash Provided by Operating Activ 23:00 3900 Net Cash Provided by Operating Activities 23100 Cash Flows from Investing Activities Sale of Equipment 5100 Cash Flows from Financing Activities Payment of Dividends 2400 Redemption of Bonds DIO 10200 Issuance of Common Stock 10800 Net Cash used by Financing Activities 19200 Net Increase in Cash 9000 Cash at Beginning of Period 12000 Cash at End of Period 21000 LINK TO TEXT