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The following are comparative balance sheets for Coronado Company. CORONADO Company Comparative Balance Sheets December 31 Additional information: 1. Net income for 2022 was $103,100.
The following are comparative balance sheets for Coronado Company. CORONADO Company Comparative Balance Sheets December 31 Additional information: 1. Net income for 2022 was $103,100. 2. Depreciation expense was $31,500. 3. Cash dividends of $40,800 were declared and paid. 4. Bonds payable with a carrying value of $52,700 were redeemed for $52,700 cash. 5. Common stock was issued at par for $41,000 cash. 6. No equipment was sold during 2022. 7. 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 with either a - sign e.g. 15,000, or in parenthesis eg. (15,000).) Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a - sign eg. 15,000, or in parenthesis eg. (15,000).) CORONADO Company Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income $ 103100 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Increase in Accounts Receivable Decrease in Inventory Decrease in Accounts Payable Cash Flows from Investing Activities Purchase of Equipment Sale of Land Cash Flows from Financing Activities Payment of Cash Dividends Issuance of Common Stock Redemption of Bonds Redemption of Bonds Cash at Beginning of Period Cash at End of Period $ 14700 17400 31500 11600 22600 32900
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