ASSIS Buildings and equipment Accumulated depreciation- €1,200,000 buildings and equipment 144,000 Patents Accounts receivable Cash 288,000 320,000 €1.552,000 Cash flows from operating activities Net income. Expunes Share capital (400,000) Accounts payable Net cash used by investing activities Cash flows from financing activities Payment of cash dividend €1.552.000 Kiner Company Statement of Cash Flows For the Year Ended December 31, 2022 Increase (Decrease) in Cash €400,000 Adjustments to reconcile net income to net cash provided by operating activities: Retained earnings 152,000 Increase in accounts receivable. €(128,000) (120,000) 320,000 Increase in accounts payable 64,000 Depreciation buildings and equipment 120,000 Gain on sale of equipment (48,000) Amortization of patents Net cash provided by operating activities Cash flows from investing activities Sale of equipment 96,000 Purchase of land (200,000) Purchase of buildings and equipment (384,000) €920,000 16,000 424,000 (488,000) 200,000 24,000 480,000 Sale of ordinary shares Net cash provided by financing activities Net increase in cash 136,000 Cash, January 1, 2022 320,000 €456,000 Cash, December 31, 2022 Total assets on the statement of financial position at December 31, 2022 are €2,216,000. Accumulated doncaciatio saiation on the cold was €11.000 86. a. b. C. d. Ans: c LO: 2 Bloom: AN Difficulty: Medium Min: 2-4 AACSB: Analytic AICPA BB: Strategic/Critical Thinking AICPA FN: Measurement AICPA PC: Problem Solving and Decision-making IMA: None 87. a. b. c. d. The balance in the Retained Earnings account at December 31, 2022 was €360,000. €880,000. €760,000. €1,000,000. Ans: d LO: 2 Bloom: AN Difficulty: Medium Min: 2-4 AACSB: Analytic AICPA BB: Strategic/Critical Thinking AICPA FN: Measurement AICPA PC: Problem Solving and Decision-making IMA: None Share capital stock (plus any share premium) at December 31, 2022 was €800,000. €920,000. €520,000. €1,240,000. Use the following information for questions 88 and 89. 88. The balance in retained earnings at December 31, 2021 was £720,000 and at December 31, 2022 was £582,000. Net income for 2022 was £500,000. A share dividend was declared and distributed which increased share capital £200,000 and share premium £110,000. A cash dividend was declared and paid. a. b. C. The amount of the cash dividend was £248,000. £328,000. £442,000. £638,000.