The following information is available for Metlock, Inc. for the year ended December 31, 2022. Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds $ 27,000 2,220 97,200 4,920 6,600 170,460 21,000 7,200 2,820 173,400 15,600 120,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following information is available for Metlock, Inc. for the year ended December 31, 2022.
Beginning cash balance
Accounts payable decrease
Depreciation expense
Accounts receivable increase
Inventory increase
Net income
Cash received for sale of land at book value
Cash dividends paid
Income taxes payable increase
Cash used to purchase building
Cash used to purchase treasury stock
Cash received from issuing bonds
$ 27,000
2,220
97,200
4,920
6,600
170,460
21,000
7,200
2,820
173,400
15,600
120,000
Transcribed Image Text:The following information is available for Metlock, Inc. for the year ended December 31, 2022. Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds $ 27,000 2,220 97,200 4,920 6,600 170,460 21,000 7,200 2,820 173,400 15,600 120,000
Prepare a statement of cash flows 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).)
Metlock, Inc.
Statement of Cash Flows-Indirect Method
Adjustments to reconcile net income to
;
Transcribed Image Text:Prepare a statement of cash flows 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).) Metlock, Inc. Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to ;
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