Unintelligent Mitchell Limited presented you with the following comparative balance sheets for 2022 and 2023 2023 2022 Assets $80.000.00 $980,000.00 ($320,000.00 $660,000.00 Non-Current Assets Intangible Assets Property. Piant and Equipment Less: Accumulated Depreciation Net Property. Plant and Equipment Long-Term Investments Total Non-Current Assets Current Assets Inventory Prepaid Expenses Accounts Receivable Cash and Cash Equivalent Total Current Assets $140,000.00 5870.000.00 ($280.000.00) 5590,000.00 $125,000.00 5855.000.00 $143,000.00 5883.000.00 $65,000.00 598.000.00 $25,000.00 $10.000.00 $39.000.00 $28,000.00 $48,000.00 $27,000.00 $162.000.00 $178,000.00 Total Assets $1.045.000.00 $1.033.000.00 Liabilities and Shareholders' Equity Liabilities Non-Current Liabilities: Long-Term Loans Notes Payable Total Non-Current Liabilities $450,000.00 5480.000.00 $75.000.00 $135.000.00 5585,000.00 5555.000.00 Current Liabilities 548,000.00 $35.000.00 $59.000.00 $18.000.00 Interest Payable Income Tax Payable Accrued Liabilities Accounts Payable 545.000.00 541.000.00 558.000.00 537,000.00 Total Contabilities Liabilities and Shareholders' Equity Liabilities Non-Current Liabilities: Long-Term Loans $450,000.00 $480,000.00 Notes Payable $135,000.00 $75,000.00 Total Non-Current Liabilities $585,000.00 $555,000.00 Current Liabilities: $59,000.00 Interest Payable Income Tax Payable $48,000.00 $35,000.00 $18,000.00 Accrued Liabilities $45,000.00 $58,000.00 Accounts Payable $41,000.00 $37,000.00 Total Current Liabilities $172,000.00 $169,000.00 $754,000.00 Total Liabilities $727,000.00 Shareholders' Equity Common Stock $181,000.00 $181.000.00 $110,000.00 $125,000.00 Retained Earnings Total Shareholders' Equity Total Liabilities and Shareholders' Equity $291.000.00 $306,000.00 $1,045,000.00 $1,033,000.00 You have also been given the following income statement for the company for 2023: omne $800.000.00 You have also been given the following income statement for the company for 2023: Sales Cost of Goods Sold Gross Pratit Selling and Administratwe Expenses Net Operating Profit Gain on Sale of Machinery EBIT Interest Expense EBT ($330.000,00) $470.000.00 15120,000.00 $350,000.00 $20.000.00 5370.000.00 ($125.000.00 $245,000.00 (575.000.00 $170.000.00 Income Tax Expense Net Income Additional Information 1. The company paid a cash dividend in 2023 2. The $20.000 gain on sale of machinery reflects transaction in which machinery with an original cost of $80.000 and accumulated deprecation of 545.000 was cold for Equipment) 3. The company did not sell any long-term investments during the year, 4. There was no gain or loss on the sale of intangible assets. 5. The company did not retire any notes payable during 2023, nor take out any additional long-term loans. nor issue or repurchase common stock Required: Prepare a cash flow statement in the appropriate format Additional Information 1. The company paid a cash dividend in 2023 2. The $20,000 gain on sale of machinery reflects transaction in which machinery with an original cost of $80,000 and accumulated deprecation of 45.000 wisseld for 155.000 in cash. (Machinery is a part of Property, plant and Equipment). 3. The company did not sell any long term investments during the year 4. There was no gain or loss on the sale of intangibile assets. 5. The company did not retire any notes payable during 2023. nor take out any additional long-term loans, nor issue or repurchase common stock Required: Prepare a cash flow statement in the appropriate format
