The comparative balance sheets for Concord Company as of December 31 are as follows. CONCORD COMPANY Comparative Balance Sheets December 31 Assets 2022 2021 Cash $58,000 $45,300 Accounts receivable 41,300 64,400 Inventory 149,200 147,000 Prepaid expenses 14,900 26,700 Land 147,900 134,900 Buildings 199,800 199,800 Accumulated depreciation-buildings (58,500) (33,000) Equipment 228,000 155,100 Accumulated depreciation equipment (42,800) (35,400) Total $737,800 $704,800 Liabilities and Stockholders' Equity Accounts payable $46,100 $39,200 Bonds payable 260,000 260,000 Common stock, $1 par 190,900 157,900 Retained earnings 240,800 247,700 Total $737,800 $704,800 Additional information: 1. 2. 3. Operating expenses include depreciation expense of $42,000 ($25,500 of depreciation expense for buildings and $16,500 for equipment). Land was sold for cash at book value. Cash dividends of $52,900 were declared and paid. Net income for 2022 was $46,000. Equipment was purchased for $94,800 cash. In addition, equipment costing $21,900 with a book value of $12,800 was sold for $5,800 cash. 33,000 shares of $1 par value common stock were issued in exchange for land with a fair value of $33,000. 4. 5. 6. Prepare a statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a - signe.g.-15,000 or in parenthesis eg. (15,000).) CONCORD COMPANY Statement of Cash Flows $ justments to reconcile net income to 4 $ $ $ $ $ eTextbook and Media Save for Later Attempts: unlimited Submit