Assets 2022 2021 Cash 10000 20000 Accounts receivable 30,000 40,000 Prepaid expenses 6,000 6,000 Inventory 90,000 70,000 Equipment 70,000 110,000 Accumulated depreciation - Equip(40,000)(55,000) Total Assets 300,000 200,000 Liabilities & Equity Accounts payable 20,000 9,000 Bonds payable 80,000 60,000 Common shares 50,000 50,000 Retained earnings 90,000 80,000 Total Liabilities and Equity200,000 190,000

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profit for 2022 is 30,000

Equipment cost 40,000, accumulated depreciation of 20,000 was sold

deprecitaion expense was recorded as 10,000

write CASH FLOW

Answer rating: 100% (QA)

To prepare the cash flow statement we need to use the indirect method which starts with the net inco... View the full answer