2. The following information is taken from French Corporation's financial statements: (6 points) December 31 2021...

 

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2. The following information is taken from French Corporation's financial statements: (6 points) December 31 2021 2020 $ 27,000 80,000 (3,100) 175,000 6,800 60,000 244,000 (13,000) 35,000 $611,700 Cash change of 43,000 $70,000 increase of 22,000 102,000 decrease of 22,000 (4,500) decrease of 20,000 155,000 increase of 700 7,500 increase of 40,000 100,000 increase of 43,000 287,000 decrease of 19,000 (32,000) decrease of 15,000 Accounts receivable Allowance for doubtful accounts Inventory Prepaid expenses Land Buildings Accumulated depreciation Patents 20,000 $705,000 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings Treasury stock, at cost increase of 6,000 $ 90,000 decrease of 9,000 54,000 increase of 65,000 125,000 no change 100,000 increase of 38,300 351,000 decrease of 7,000 (15,000) $705.000 $ 84,000 63,000 60,000 100,000 312,700 (8,000) $611.700 For 2021 Year $63,300 19,000 5,000 Net income Depreciation expense Amortization of patents Gain or loss on sale of patents Using the form on the following page, prepare a statement of cash flows for French Corporation for the year 2021 using the indirect method. 2. The following information is taken from French Corporation's financial statements: (6 points) December 31 2021 2020 $ 27,000 80,000 (3,100) 175,000 6,800 60,000 244,000 (13,000) 35,000 $611,700 Cash change of 43,000 $70,000 increase of 22,000 102,000 decrease of 22,000 (4,500) decrease of 20,000 155,000 increase of 700 7,500 increase of 40,000 100,000 increase of 43,000 287,000 decrease of 19,000 (32,000) decrease of 15,000 Accounts receivable Allowance for doubtful accounts Inventory Prepaid expenses Land Buildings Accumulated depreciation Patents 20,000 $705,000 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings Treasury stock, at cost increase of 6,000 $ 90,000 decrease of 9,000 54,000 increase of 65,000 125,000 no change 100,000 increase of 38,300 351,000 decrease of 7,000 (15,000) $705.000 $ 84,000 63,000 60,000 100,000 312,700 (8,000) $611.700 For 2021 Year $63,300 19,000 5,000 Net income Depreciation expense Amortization of patents Gain or loss on sale of patents Using the form on the following page, prepare a statement of cash flows for French Corporation for the year 2021 using the indirect method.

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French Corporation Statement of Cash Flows For the Year Ended December 31 2021 Cash flows from ... View the full answer