From the year ending December 31, 2022 Income Statement: Revenue: $16,400 Cost of Goods Sold: $2,800 Depreciation Expense: $900 Wages Expense: $1,775 Net Income: $6,000 From the Balance Sheets, the following are changes between December 31, 2021 and December 31, 2022. (no change for any items not listed) Accounts Receivable: from a balance of $2,400 to a balance of $3,100 Inventory: no change Accounts Payable: from a balance of $1,700 to a balance of (see below)

$2,400

Cash on Jan 1, 2022, was $1,000 For 2022, there was $1,200 in capital expenditures and $500 paid in cash dividends: but no other financing or investing activities. Based on the appropriate available information above, Prepare a Statement of Cash Flow (Indirect Method), using the proper format. (i.e., headings and properly label all line items)

Answer rating: 100% (QA)

To prepare the Statement of Cash Flows using the indirect method we start with the net income and ad... View the full answer