The following are comparative balance sheets for Vaughn Company.AssetsCashAccounts receivableInventoryLandEquipmentAccumulated depreciation-equipmentTotalVAUGHN CompanyComparative Balance SheetsDecember 31Liabilities and Stockholders' EquityAccounts payableBonds payableCommon stock ($1 par)Retained earningsTotal2022$72,60086,300170,50073,800260,000(65,900)$597,300$35,400151,100214,900195,900$597,3002021$33,00071,400186,600100,800200,800(34,100)$558,500$47,000204,000174,700132,800$558,500 Additional information:1.2.3.4.5.6.7.Net income for 2022 was $104,800.Depreciation expense was $31,800.Cash dividends of $41,700 were declared and paid.Bonds payable with a carrying value of $52,900 were redeemed for $52,900 cash.Common stock was issued at par for $40,200 cash.No 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 - signe.g. -15,000, or in parenthesis e.g. (15,000).)

The following are comparative balance sheets for Vaughn Company. Assets Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment Total VAUGHN Company Comparative Balance Sheets December 31 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total 2022 $72,600 86,300 170,500 73,800 260,000 (65,900) $597,300 $35,400 151,100 214,900 195,900 $597,300 2021 $33,000 71,400 186,600 100,800 200,800 (34,100) $558,500 $47,000 204,000 174,700 132,800 $558,500

The following are comparative balance sheets for Vaughn Company. Assets Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment Total VAUGHN Company Comparative Balance Sheets December 31 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total 2022 $72,600 86,300 170,500 73,800 260,000 (65,900) $597,300 $35,400 151,100 214,900 195,900 $597,300 2021 $33,000 71,400 186,600 100,800 200,800 (34,100) $558,500 $47,000 204,000 174,700 132,800 $558,500

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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