Question 57 Based on the following information, prepare the cash flow statement using the indirect method. income statement Sales cost of goods sold gross profit 360,000 205,000 155,000 salaries expense depreciation expense interest expense rent expense loss on equipment total expenses operating income 44,000 15,000 1,400 48,000 2,000 110,400 44,600 0 net income 44,600 Statement of Retained Earnings Beginning Balance - Retained Earnings Plus - Net Income Less - Dividends Ending Balance - Retained Earnings 145,900 44,600 (3,200) 187,300 $ Balance sheets 2020 2021 changel Assets: Cash Accounts Receivable Inventory prepaid expenses Equipment 34,400 81,600 70,800 1,300 87,000 87,800 161,600 15,800 7,300 95,000 53,400 80,000 (55,000) 6,000 8,000 Accum. Depr - Equipment total assets (33,500) 241,600 (42,500) 325,000 (9,000) Liabilities: Accounts Payable accrued Liabilities Bonds Payable total liabilities 38,700 7,000 30,000 75,700 83,700 9,000 25,000 117,700 45,000 2,000 (5,000) 0 shareholders Equity: Common Stock Retained Earnings total equity total liabilities and shareholder equity 41,400 20,000 145,900 165,900 241,600 20,000 187,300 207,300 325,000 Question 57 Based on the following information, prepare the cash flow statement using the indirect method. income statement Sales cost of goods sold gross profit 360,000 205,000 155,000 salaries expense depreciation expense interest expense rent expense loss on equipment total expenses operating income 44,000 15,000 1,400 48,000 2,000 110,400 44,600 0 net income 44,600 Statement of Retained Earnings Beginning Balance - Retained Earnings Plus - Net Income Less - Dividends Ending Balance - Retained Earnings 145,900 44,600 (3,200) 187,300 $ Balance sheets 2020 2021 changel Assets: Cash Accounts Receivable Inventory prepaid expenses Equipment 34,400 81,600 70,800 1,300 87,000 87,800 161,600 15,800 7,300 95,000 53,400 80,000 (55,000) 6,000 8,000 Accum. Depr - Equipment total assets (33,500) 241,600 (42,500) 325,000 (9,000) Liabilities: Accounts Payable accrued Liabilities Bonds Payable total liabilities 38,700 7,000 30,000 75,700 83,700 9,000 25,000 117,700 45,000 2,000 (5,000) 0 shareholders Equity: Common Stock Retained Earnings total equity total liabilities and shareholder equity 41,400 20,000 145,900 165,900 241,600 20,000 187,300 207,300 325,000