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2 MARIN COMPANY Comparative Balance Sheet Accounts receivable Inventory Prepaid insurance Stock investments Equipment Accumulated depreciation-equipment Total assets Liabilities and Stockholder's Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholder's equity 1. Cash 3. 4. Assets Dec. 31, 2022 $38,700 19,500 26,100 7,300 -0- 84,000 (18,000) $157,600 $32,800 37,100 43,400 44,300 $157,600 Additional information: Net income for the year ending December 31, 2022, was $37,000. Cash dividends of $14,800 were declared and paid during the year. Stock investments on balance sheet that had a book value of $18,700 were sold for $12,800. Sales for 2022 are $150,000. Dec. 31, 2021 $18,500 12,500 16,700 9,300 17,900 42,000 (13,000) $103,900 MARIN CORPORATION Statement of Cash Flows $7,800 50,000 24,800 21,300 $103,900 Prepare a statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show. that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) ◆

2 MARIN COMPANY Comparative Balance Sheet Accounts receivable Inventory Prepaid insurance Stock investments Equipment Accumulated depreciation-equipment Total assets Liabilities and Stockholder's Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholder's equity 1. Cash 3. 4. Assets Dec. 31, 2022 $38,700 19,500 26,100 7,300 -0- 84,000 (18,000) $157,600 $32,800 37,100 43,400 44,300 $157,600 Additional information: Net income for the year ending December 31, 2022, was $37,000. Cash dividends of $14,800 were declared and paid during the year. Stock investments on balance sheet that had a book value of $18,700 were sold for $12,800. Sales for 2022 are $150,000. Dec. 31, 2021 $18,500 12,500 16,700 9,300 17,900 42,000 (13,000) $103,900 MARIN CORPORATION Statement of Cash Flows $7,800 50,000 24,800 21,300 $103,900 Prepare a statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show. that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) ◆

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Equipment Accumulated depreciation-equipment MARIN COMPANY Comparative Balance Sheet Accounts receivable Inventory Prepaid insurance Stock investments Total assets Liabilities and Stockholder's Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholder's equity 1. Cash 2. 3. 4. Assets Dec. 31, 2022 $38,700 19,500 26,100 7,300 -0- # 84,000 (18,000) $157,600 $32,800 37,100 43,400 44,300 $157,600 Dec. 31, 2021 $18,500 MARIN CORPORATION Statement of Cash Flows 12,500 16,700 9,300 17,900 42,000 (13,000 ) $103,900 Additional information: Net income for the year ending December 31, 2022, was $37,000. Cash dividends of $14,800 were declared and paid during the year. Stock investments on balance sheet that had a book value of $18,700 were sold for $12,800. Sales for 2022 are $150,000. $7,800 50,000 24,800 21,300 $103,900 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).)
Transcribed Image Text:Equipment Accumulated depreciation-equipment MARIN COMPANY Comparative Balance Sheet Accounts receivable Inventory Prepaid insurance Stock investments Total assets Liabilities and Stockholder's Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholder's equity 1. Cash 2. 3. 4. Assets Dec. 31, 2022 $38,700 19,500 26,100 7,300 -0- # 84,000 (18,000) $157,600 $32,800 37,100 43,400 44,300 $157,600 Dec. 31, 2021 $18,500 MARIN CORPORATION Statement of Cash Flows 12,500 16,700 9,300 17,900 42,000 (13,000 ) $103,900 Additional information: Net income for the year ending December 31, 2022, was $37,000. Cash dividends of $14,800 were declared and paid during the year. Stock investments on balance sheet that had a book value of $18,700 were sold for $12,800. Sales for 2022 are $150,000. $7,800 50,000 24,800 21,300 $103,900 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).)
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