WATERWAY COMPANY

Income Statement

For the Year Ended December $31,2022$ Additional data:

Depreciation expense was $$15,700.$

Dividends declared and paid were $$25,100.$

During the year, equipment was sold for $$8,800$ cash. This equipment originally cost $$18,200$ and had accumulated

depreciation of $$9,400$ at the time of sale.

Bonds were redeemed at their carrying value.

Common stock was issued at par for cash. Prepare a statement of cash flows using the indirect method. $($Show amounts that decrease cash flow with either a $-$ sign e$.$g$.-15,000$

or in parenthesis e$.$g$.(15,000).$

WATERWAY COMPANY

Statement of Cash Flows

Adjustments to reconcile net income to

$$$

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$^$Presented here are the financial statements of Waterway Company.