q. 15

Additional information:

1. Net income for 2022 was $120,900. There were no gains or losses reported on the statement of income. 2. Cash dividends of $45,500 were declared and paid. 3. Bonds payable amounting to $65,000 were redeemed for cash $65,000. The bonds were originally issued at face value (no premium or discount). 4. Common shares were issued for $54,600 cash. 5. No land was purchased during 2022. 6. No equipment was disposed of during 2022.

Prepare a statement of cash flows for 2022 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).)

Shown below are comparative statements of financial position for Martinez Corporation.

Shown below are comparative statements of financial position for Martinez Corporation. MARTINEZ CORPORATION Statement of Financial Position December 31 Assets 2022 2021 Cash $88.400 $28,600 Accounts receivable 110,500 98.800 Inventory 221.000 245,700 Land 104,000 130,000 Equipment 338.000 280,000 Accumulated depreciation - equipment (95.800) (41.800 $776,100 $721,500 Liabilities and Shareholders' Equity Accounts payable $50,700 $61,100 Bonds payable 195.000 280,000 Cammon shares 280.800 226.200 Retained earnings 249.600 174.200 $776.100 $721.500 Additional information: 1 2. Net income for 2022 was $120,900. There were no gains or losses reported on the statement of income. Cash dividends of $45,500 were declared and paid. Bonds payable amounting to $65.000 were redeemed for cash $65,000. The bonds were originally issued at face value (no premium or discount). 3 4 Common shares were issued for $54,600 cash. No land was purchased during 2022. 5. 6. No equipment was disposed of during 2022 Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a signes - 15.000 or in parenthesis es. (15,000 MARTINEZ CORPORATION Statement of Cash Flows Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a-sign eg. - 15,000 or in parenthesis e.g. (15,000).) MARTINEZ CORPORATION Statement of Cash Flows For the Year Ended December 31, 2022 $ Adjustments to reconcile net income to $ $ > $ >