Question
The comparative balance sheets for Jellystone Park Corporation appear below: JELLYSTONE PARK CORPORATION Comparative Balance Sheet Dec. 31, 2021 Dec. 31, 2020 Assets Cash........................................................................................ $
The comparative balance sheets for Jellystone Park Corporation appear below:
JELLYSTONE PARK CORPORATION
Comparative Balance Sheet
Dec. 31, 2021 Dec. 31, 2020
Assets
Cash........................................................................................ $ 23,000 $ 12,000
Accounts receivable................................................................. 18,000 14,000
Prepaid expenses....................................................................... 6,000 9,000
Inventory.................................................................................... 27,000 18,000
Long-term investment in bonds.................................................. -0- 18,000
Equipment................................................................................. 60,000 30,000
Accumulated depreciationequipment............................ (18,000) (14,000)
Total assets................................................................ $ 116,000 $ 87,000
Liabilities and Shareholders' Equity
Accounts payable.................................................................. $ 21,000 $ 9,000
Bonds payable.......................................................................... 37,000 45,000
Common shares....................................................................... 40,000 23,000
Retained earnings................................................................ 18,000 10,000
Total liabilities and shareholders' equity................ $ 116,000 $ 87,000
Additional information:
1. Profit for the year ending December 31, 2021 was $ 20,000.
2. Cash dividends of $ 12,000 were declared and paid during the year.
3. Long-term investments in bonds that had an amortized cost of $ 18,000 were sold for $ 16,000.
Required:
Prepare a cash flow statement for the year ended December 31, 2021, using the indirect method.
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