Please do not give solution in image format thanku The following are comparative balance sheets for Crane Company.AssetsCashAccounts receivableInventoryLandCRANE CompanyComparative Balance SheetsDecember 31EquipmentAccumulated depreciation-equipmentTotalLiabilities and Stockholders' EquityAccounts payableBonds payableCommon stock ($1 par)Retained earningsTotal2022$72,50085,500169,50072.000259,000(65,500)$593,000$35,000148,000214,000196,000$593,0002021$32,50070,500186,500100,000199,000(33,500)$555,000$46,500203,000172,000133,500$555,000 Additional information:1.2.3.4.5.6.7.Net income for 2022 was $101.000.Depreciation expense was $32,000.Cash dividends of $38,500 were declared and paid.Bonds payable with a carrying value of $55.000 were redeemed for $55,000 cash.Common stock was issued at par for $42,000 cashNo equipment was sold during 2022.Land was sold for its book value.Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a-sign eg-15,000, or in parenthesis eg. (15,000))CRANE CompanyStatement of Cash FlowsAdjustments to reconcile net income to

The cash flow statement is prepared to record the cash flow from various activities during the…

Assets Cash Accounts receivable Inventory Land CRANE Company Comparative Balance Sheets December 31 Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total 2022 $72,500 85,500 169,500 72.000 259,000 (65.500) $593,000 $35,000 148.000 214,000 196,000 $593,000 2021 $32.500 70.500 186,500 100.000 199,000 (33,500) $555,000 $46,500 203,000 172.000 133.500 $555,000

Assets Cash Accounts receivable Inventory Land CRANE Company Comparative Balance Sheets December 31 Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total 2022 $72,500 85,500 169,500 72.000 259,000 (65.500) $593,000 $35,000 148.000 214,000 196,000 $593,000 2021 $32.500 70.500 186,500 100.000 199,000 (33,500) $555,000 $46,500 203,000 172.000 133.500 $555,000

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 6BE

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