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Shown below are comparative balance sheets for Flint Corporation. 2021 Flint Corporation Comparative Balance Sheets December 31 Assets 2022 Cash $ 197,200 Accounts receivable 255,200
Shown below are comparative balance sheets for Flint Corporation. 2021 Flint Corporation Comparative Balance Sheets December 31 Assets 2022 Cash $ 197,200 Accounts receivable 255,200 Inventory 484,300 Land 232,000 Equipment 754,000 Accumulated depreciation equipment (191,400) Total $1,731,300 Liabilities and Stockholders' Equity Accounts payable $ 113,100 Bonds payable 435,000 Common stock ($1 par) 626,400 Retained earnings 556,800 Total $1,731,300 $ 63,800 220,400 548,100 290,000 580,000 (92,800) $1,609,500 . $ 124,700 580,000 504,600 400,200 $1,609,500 Additional information: 1. 2. 3 4 Net income for 2022 was $269,700. Depreciation expense was $98,600. Cash dividends of $113,100 were declared and paid, Bonds payable amounting to $145,000 were redeemed for cash $145,000. Common stock was issued for $121.800 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 either a - signes. -45,000, or in parenthesises. (45,0001). Flint Corporation Statement of Cash Flows Adjustments to reconcile net income to > >
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