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Shown below are comparative balance sheets for Wildhorse Company. Wildhorse Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 47,600 Accounts receivable 61,600 Inventory
Shown below are comparative balance sheets for Wildhorse Company. Wildhorse Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 47,600 Accounts receivable 61,600 Inventory 116,900 Land 56,000 Equipment 182,000 Accumulated depreciation equipment (46,200) Total $417.900 Liabilities and Stockholders' Equity Accounts payable $ 27,300 Bonds payable 105,000 Common stock ($1 par) 151,200 Retained earnings 134,400 Total $417.900 2021 $ 15,400 53,200 132,300 70,000 140,000 (22,400) $388,500 $ 30,100 140,000 121,800 96,600 $388,500 Additional information: 1. 2. 3. 4 Net income for 2022 was $65,100. Depreciation expense was $23,800. Cash dividends of $27,300 were declared and paid. Bonds payable amounting to $35,000 were redeemed for cash $35,000. Common stock was issued for $29,400 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 - sign e.g. -45,000, or in parenthesis e.g. (45,000)). Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -45,000, or in parenthesis es. (45.000)). Wildhorse Company Statement of Cash Flows Adjustments to reconcile net income to
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