WILDHORSE COMPANY

Comparative Balance Sheet

December $31$

WILDHORSE COMPANY

Income Statement

Additional information:

New plant assets costing $$87,500$ were purchased for cash in $2022.$

Old plant assets costing $$29,000$ were sold for $$5,900$ cash when book value was $$14,400.$

Bonds with a face value of $$26,000$ were converted into $$26,000$ of common stock.

A cash dividend of $$26,000$ was declared and paid during the year.

Accounts payable pertain to merchandise purchases.

Prepare a statement of cash flows for the year using the direct method. $($Show amounts that decrease cash flow with either $a-$ sign e$.$g$.$

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