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The following information is available for Shamrock Corporation for the year ended December 31, 2022: Collection of principal on long-term loan to a supplier
The following information is available for Shamrock Corporation for the year ended December 31, 2022: Collection of principal on long-term loan to a supplier $18,000 Acquisition of equipment for cash 15,500 Proceeds from the sale of long-term investment at book value 24,300 Issuance of common stock for cash 21,500 Depreciation expense 26,300 Redemption of bonds payable at carrying (book) value 32,700 Payment of cash dividends 6,700 Net income 39,000 44.500 Purchase of land by issuing bonds payable In addition, the following information is available from the comparative balance sheet for Shamrock at the end of 2022 and 2021: 2022 2021 Cash $158,000 $92,000 Accounts receivable (net) 30,600 18,800 Prepaid insurance 19.600 15,000 Total current assets $208,200 $125,800 Accounts payable $31.100 $22,000 Salaries and wages payable 7,000 7,900 Total current liabilities $38,100 $29,900 Prepare Shamrock's statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000).) SHAMROCK CORPORATION Statement of Cash Flows Adjustments to reconcile net income to > < >
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