there are 2 tabs under cash at end of period
Blossom Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 85,680 $56,700 Accounts receivable 63,000 73,080 Inventory 190,827 178,920 Prepaid expenses 19,253 26,460 Land 182,700 163,800 Buildings 252,000 252,000 Accumulated depreciation-buildings (75,600) (50,400 ) Equipment 283,500 195,300 Accumulated depreciation-equipment (56,700) (44,100) Total $944,660 $851,760 Liabilities and Stockholders' Equity Accounts payable $ 56,360 $ 45,360 Bonds payable Common stock, $1 par 378,000 378,000 252,000 201,600 258,300 226,800 $944,660 $851,760 Retained earnings Total Additional information: 1. Operating expenses include depreciation expense of $52,920 ($25,200 of depreciation expense for buildings and $27.720 for equipment). 2. Land was sold for cash at book value. 3. Cash dividends of $15,120 were paid. 4. Net income for 2022 was $46,620. 5. Equipment was purchased for $115,920 cash. In addition, equipment costing $27,720 with a book value of $12,600 was sold for $10,080 cash. 6. 50,400 shares of $1 par value common stock were issued in exchange for land with a fair value of $50,400. Prepare a 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 e.g.-15,000 or in parenthesis e.g. (15,000).) Blossom Company Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income 46620 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 52920 Loss on Disposal of Plant Assets Decrease in Accounts Receivable Net Cash Provided by Operating Activities Depreciation Expense 4 $ 52920 | Loss on Disposal of Plant Assets Decrease in Accounts Receivable Increase in Inventory Decrease in Prepaid Expenses Increase in Accounts Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities Purchase of Equipment Sale of Land Sale of Equipment 10080 Net Cash Provided by Investing Activities - Net Cash Provided by Investing Activities Cash Flows from Financing Activities ties Increase in Inventory Net Increase in Cash 28980 Cash at Beginning of Period 56700 Cash at End of Period 85680 $ Acquired Land by Issuance of Common Stock Decrease in Accounts Payable Decrease in Accounts Receivable Decrease in Inventory Decrease in Prepaid Expenses Depreciation Expense Increase in Accounts Payable Increase in Accounts Receivable Increase in Inventory Increase in Prepaid Expenses Gain on Disposal of Plant Assets Loss on Disposal of Plant Assets Net Income Payment of Cash Dividends Purchase of Equipment Sale of Equipment Sale of Land Assignment sent to Gradebook. Your grade is being recorded. Tue. May 5, 2020, 8:44:42 PM (America/New York-04:00)
