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WATERWAY Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $73,400 $33,100 Accounts receivable 86,000 71,500 Inventory 170,300 186,900 Land 72,600 100,000 Equipment 260,500
WATERWAY Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $73,400 $33,100 Accounts receivable 86,000 71,500 Inventory 170,300 186,900 Land 72,600 100,000 Equipment 260,500 199,300 Accumulated depreciation-equipment (65,700) (33,700) Total $597,100 $557,100 $35,300 $46,500 150,600 204,000 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par Retained earnings Total 216,200 175,500 195,000 131,100 $597,100 $557.100 Additional information: o RI E SMS. Competency Assessment: Part 2 Question 1 of 5 -/1 Additional information: 1 2. 3 4. Net income for 2022 was $101.200. Depreciation expense was $32,000. Cash dividends of $37,300 were declared and paid Bonds payable with a carrying value of 553,400 were redeemed for $53400 cash Common stock was issued at par for $40,700 cash. No equipment was sold during 2022. Land was sold for its book value, 5. 6. 2 Prepare a statement of cash flows for 2022 using the indirect method (Show amounts that decrease cash flow with either a signes. - 15,000, or in parenthesis ex. (15,0001) WATERWAY Company Statement of Cash Flows December 31, 2022 Cash Flows from Operating Activities Net Income Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a - signes -15,000, or in parenthesis eg. (15,000).) WATERWAY Company Statement of Cash Flows December 31, 2022 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Depreciation Expense $ Decrease in Accounts Payable C Decrease in Inventory -/1 e Textbook and Media
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