The comparative balance sheets for Splish Brothers Company appear below: SPLISH BROTHERS COMPANYComparative Balance Sheet Assets Dec. 31, 2022 Dec. 31, 2021 Cash $46,700 $13,000 Accounts receivable 17,000 14,000 Inventory 37,000 19,600 Prepaid insurance 8,500 10,000 Stock investments -0- 15,500 Equipment 60,000 30,000 Accumulated depreciation-equipment (15,100 ) (12,500 ) Total assets $154,100 $89,600 Liabilities and Stockholder's Equity Accounts payable $34,500 $8,300 Bonds payable 35,200 45,500 Common stock 35,500 20,900 Retained earnings 48,900 14,900 Total liabilities and stockholder's equity $154,100 $89,600 Additional information: 1. Net income for the year ending December 31, 2022, was $44,000. 2. Cash dividends of $11,700 were declared and paid during the year. 3. Stock investments on balance sheet that had a book value of $17,200 were sold for $12,400. 4. Sales for 2022 are $130,000. Prepare a statement of cash flows for the year ended December 31, 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).) SPLISH BROTHERS CORPORATIONStatement of Cash Flows

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The comparative balance sheets for Splish Brothers Company appear below:

SPLISH BROTHERS COMPANY Comparative Balance Sheet

	Assets	Dec. 31, 2022			Dec. 31, 2021
Cash			$46,700			$13,000
Accounts receivable			17,000			14,000
Inventory			37,000			19,600
Prepaid insurance			8,500			10,000
Stock investments			-0-			15,500
Equipment			60,000			30,000
Accumulated depreciation-equipment			(15,100	)		(12,500	)
Total assets			$154,100			$89,600
Liabilities and Stockholder's Equity
Accounts payable			$34,500			$8,300
Bonds payable			35,200			45,500
Common stock			35,500			20,900
Retained earnings			48,900			14,900
Total liabilities and stockholder's equity			$154,100			$89,600

Additional information:
1.		Net income for the year ending December 31, 2022, was $44,000.
2.		Cash dividends of $11,700 were declared and paid during the year.
3.		Stock investments on balance sheet that had a book value of $17,200 were sold for $12,400.
4.		Sales for 2022 are $130,000.

Prepare a statement of cash flows for the year ended December 31, 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).)

SPLISH BROTHERS CORPORATION Statement of Cash Flows

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