The comparative statements of financial position of Lopez Inc. at the beginning and the end of the year 2022 appear as follows.

Net income of $34,000 was reported, and dividends of $13,000 were paid in 2022. New equipment was purchased and none was sold.

Instructions

Prepare a statement of cash flows for the year 2022.

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Lopez Inc. Statements of Financial Position Assets Dec. 31, 2022 Jan. 1, 2022 Inc./Dec. Equipment $ 39,000 $ 22,000 $17,000 Inc. Less: Accumulated depreciation-equipment (17,000) (11,000) 6,00o Inc. Accounts receivable 91,000 88,000 3,000o Inc. Cash 45,000 13,000 32,000 Inc. Total $158,000 $112,000 Equity and Liabilities Share capital-ordinary Retained earnings $100,000 $ 80,000 20,000 Inc. 38,000 17,000 21,000 Inc. Accounts payable 20,000 15,000 5,000 Inc. Total $158,000 $112,000