Additional information:

1.		Net income was $22,900. Dividends declared and paid were $14,500.
2.		No noncash investing and financing activities occurred during 2022.
3.		The land was sold for cash of $4,700.

(a)

Partially correct answer icon

Prepare a statement of cash flows for 2022 using the indirect method

Concord Corporation's comparative balance sheets are presented below. Cash Accounts receivable Land Buildings Accumulated depreciation-buildings Total Accounts payable Common stock CONCORD CORPORATION Comparative Balance Sheets December 31 Retained earnings Total 2022 $14,600 21,600 20,500 70,200 (14,500) $112,400 $12,000 74,000 26,400 $112,400 2021 $10,300 23,900 25,900 70,200 (10,800) $119,500 $31,200 70,300 18,000 $119,500 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense CONCORD CORPORATION Statement of Cash Flows For the Year Ended December 31, 2022 Loss on Disposal of Plant Assets Decrease in Accounts Receivable Decrease in Accounts Payable Net Cash Provided by Operating Activities $ 3,700 -5,400 2,300 -19,200 $ 22,900 -18,600 4,300 Cash Flows from Investing Activities Sale of Land Net Cash Provided by Investing Activities Cash Flows from Financing Activities Issuance of Common Stock Payment of Dividends Net Cash Used by Financing Activities Net Increase in Cash Cash at Beginning of Period Cash at End of Period eTextbook and Media $ 4,700 3,700 -14,500 4,700 LICH -10800