Waterway Corporation$$s comparative balance sheets are presented below.

WATERWAY CORPORATION

Comparative Balance Sheets

December $31$

$2022$

$2021$

Cash

$$15,000$

$$10,200$

Accounts receivable

$21,400$

$23,800$

Land

$19,800$

$26,400$

Buildings

$70,100$

$70,100$

Accumulated depreciation$$buildings

$(15,300)$

$(10,800)$

Total

$$111,000$

$$119,700$

Accounts payable

$$12,800$

$$30,800$

Common stock

$74,600$

$70,400$

Retained earnings

$23,600$

$18,500$

Total

$$111,000$

$$119,700$

Additional information:

$1.$ Net income was $$22,800.$ Dividends declared and paid were $$17,700.$

$2.$ No noncash investing and financing activities occurred during $2022.$

$3.$ The land was sold for cash of $$4,500.$

$($a$)$

Prepare a statement of cash flows for $2022$ using the indirect method. $($Show amounts that decrease cash flow with either a $-$ sign e$.$g$.-15,000,$ or in parenthesis e$.$g$.(15,000).)$

WATERWAY CORPORATION

Statement of Cash Flows

choose the accounting period

select an opening name for section one

select an item

$enter a dollar amount

Adjustments to reconcile net income to

select a subsection name

select an item

$enter a dollar amount

select an item

enter a dollar amount

select an item

enter a dollar amount

select an item

enter a dollar amount

enter a subtotal of the adjustments

select a closing name for section one

enter a total amount for section one

select an opening name for section two

select an item

enter a dollar amount

select a closing name for section two

enter a total amount for section two

select an opening name for section three

select an item

$enter a dollar amount

select an item

enter a dollar amount

select a closing name for section three

enter a total amount for section three

select an item

enter a total amount for three sections

select an item

enter a dollar amount

select a closing name for this statement

$enter a total of the two previous amounts

Answer rating: 100% (QA)

WATERWAY CORPORATION Statement of Cash Flows For the Year Ended December 31 2022 Operating Activitie... View the full answer