arch View Policies Current Attempt in Progress Presented here are the financial statements of Coronado Company. Assets Cash CORONADO COMPANY Comparative Balance Sheets December 31 Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total Liabilities and Stockholders' Equity H 2022 $36,000 32,700 30,100 59,600 (29,400) $129,000 2021 $21,000 18,900 20,100 77,600 (23,300) $114,300

Property, plant, and equipment 59,600 77,600 Accumulated depreciation (29,400) (23,300) Total $129,000 $114,300 Liabilities and Stockholders' Equity \begin{tabular}{lrr} Accounts payable & $28,000 & $16,800 \\ Income taxes payable & 7,200 & 8,400 \\ Bonds payable & 26,700 & 32,100 \\ Common stock & 17,700 & 13,400 \\ Retained earnings & 49,400 & 43,600 \\ \hline Total & $129,000 & $114,300 \\ \hline \end{tabular} CORONADO COMPANY Income Statement For the Year Ended December 31, 2022 Sales revenue Question 7 of 7 Additional data: 1. Depreciation expense was $17,500. 2. Dividends declared and paid were $25,960. 1. Depreciation expense was $17,500. 2. Dividends declared and paid were $25,960. 3. During the year, equipment was sold for $6,600 cash. This equipment originally cost $18,000 and had accumulated depreciation of $11,400 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. Further analysis reveals the following. 1. Accounts payable pertain to merchandise suppliers. 2. All operating expenses except for depreciation were paid in cash. 3. All depreciation expense is in the selling expense category. 4. All sales and inventory purchases are on account. Prepare a statement of cash flows for Coronado Company using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000).) estion 7 of 7 19 eTextbook and Media Save for Later Attempts: 0 of 5 used Submit Answer Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Free cash flow eTextbook and Media