Question 4 of 4 The following are comparative balance sheets for Monty Company, Monty Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 72,800 Accounts receivable 86,400 2021 $32,900 70.700 Inventory 169.700 187,400 Land 73,400 101.400 260,900 199.500 Equipment Accumulated depreciation equipment (66,000) (34.100) $557,800 Total $597.200 $35.400 $ 47.000 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) 148,800 203,700 214.500 174,800 Retained earnings 198,500 132.300 Total $597,200 $557.800 Additional information: 1 2. . 3. 4. Net income for 2022 was $101,600. Depreciation expense was $31.900, Cash dividends of $35,400 were declared and paid. Bonds payable amounting to $54.900 were redeemed for cash $54.900. Common stock was issued for $39.700 cash. No equipment was sold during 2022 Land was sold for its book value. 5. 6. 7. Prepare a statement of cash flows for 2022 using the indirect method (Show amounts that decrease cash flow with elther a-sign 0.8.-15,000, or in parenthesis ex. (15.000).) Monty Company Statement of Cash Flows For the Year Ended December 31, 2022 2 Cash Flows from Operating Activities Net Income 1600 Adjustments to reconcile net income to NetCash Provided by Operating Activities Depreciation Expense 31900 Increase in Accounts Receivable (14900) Decrease in Inventory 17600 Decrease in Accounts Payable (12200) 22400 Net Cash Provided by Operating Activities : 124000 Cash Flows from investing Activities Purchase of Equipment (60400) Sale of Land 28900 Net Cash Provided by Investing Activities: (31500) Cash Flows from Financine Activities Payment of Cash Dividends 139800) Redemption of Bonds 155500) Sale of Land 28900 Net Cash Provided by Investing Activities (31500) Cash Flows from Financing Activities Payment of Cash Dividends (39800) Redemption of Bonds (555001 Issuance of Common Stock 42100 Net Cash Provided by Financing Activities : (53200) Net Increase in Cash 39300 Cachot Beginning of Period 33300 Cash at End of Period 72600