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The following are comparative balance sheets for Coronado Company The following are comparative balance sheets for Coronado Company. CORONADO Company Comparative Balance Sheets December 31

image text in transcribedimage text in transcribed The following are comparative balance sheets for Coronado Company

The following are comparative balance sheets for Coronado Company. CORONADO Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Land Equipment Accumulated depreciationequipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total Additional information: 2022 $73,200 85,600 169,700 73,000 260,600 (65,600) $596,500 $35,200 150,900 216,500 193,900 $596,500 2021 $32,900 70,900 187,100 101,700 199,000 (34, 100) $557,500 $46,800 203,600 175,500 131,600 $557,500 1. 2. 3. 4. 5. 6. 7. Net income for 2022 was $103,100. Depreciation expense was $31,500. Cash dividends of $40,800 were declared and paid. Bonds payable with a carrying value of $52,700 were redeemed for $52,700 cash. Common stock was issued at par for $41,000 cash. No equipment was sold during 2022. Land was sold for its book value. Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow Microsoft Worc -15,000, or in parenthesis e.g. (15,000).)

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