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The comparative balance sheets for Windsor Corporation appear below: WINDSOR CORPORATION Comparative Balance Sheet Cash Accounts receivable (net) Prepaid insurance Land Equipment Accumulated depreciation Total
The comparative balance sheets for Windsor Corporation appear below: WINDSOR CORPORATION Comparative Balance Sheet Cash Accounts receivable (net) Prepaid insurance Land Equipment Accumulated depreciation Total assets Liabilities and Stockholder's Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholder's equity Assets 2022 $56,600 89,000 29,600 20,500 80,000 (19,400 $256,300 $15,000 29,200 147,000 65,100 $256,300 ) 2021 $34,700 68,500 19,300 56,000 63,000 (1 1,200 $230,300 $7,800 16,600 115,000 90,900 $230,300 Additional information: 1. 2. Net loss for 2022 is $12,000. Net sales for 2022 are $320,000. Cash dividends of $16,600 were declared and paid in 2022. Land was sold for cash at a loss of $3,500. This was the only land transaction during the year. Equipment with a cost of $16,800 and accumulated depreciation of $11,900 was sold for $5,900 cash. $14,300 of bonds were retired during the year at carrying (book) value. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $34,000. Prepare a statement of cash ows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash ow with either a - sign e.g. 45,000 or in parenthesis cg. (15,000). Do not leave any answer eld blank. Enter 0 for amounts.) WINDSOR CORPORATION Statement of Cash Flows For the Year Ended December 31, 2022 V Cash Flows from Operating Activities v Net Income / (Loss) V $ (12000) Adjustments to reconcile net income to Net Cash Provided by Operating Activities v Depreciation Expense V $ 20100 Loss on Disposal of Plant Assets V 3500 Increase in Accounts Receivable V (20500) Increase in Prepaid Insurance V [10300) Increase in Accounts Payable v 7200 Net Cash Provided by Operating Activities V (12000) Cash Flows from Investing Activities V Proceeds from the Sale of Land V 32000 Proceeds from the Sale of Equipment V 1800 Net Cash Used by Investing Activities V 33800 Cash Flows from Financing Activities V Payment of Dividends V 13800 Retirement of Bonds Payable V (14300) Purchase of Equipment through Issuance of Common Stock V Net Cash Used by Financing Activities Net Increase in Cash Cash at Beginning of Period Cash at End of Period Noncash Investing and Financing Activities Issuance of Bonds Payable V
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