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Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total BONITA COMPANY Comparative Balance Sheets December 31 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total 2022 $36,400 32,700 30,700 59,300 (29,700) $129,400 $28,000 7,000 27,400 18,200 48,800 $129,400 2021 $20,800 19,500 20,900 77,300 (23,300) $115,200 $ 16,600 8,300 32,100 13,700 44,500 $115,200

BONITA COMPANY Income Statement For the Year Ended December 31, 2022 Sales revenue Cost of goods sold Gross profit Selling expenses Administrative expenses Income from operations Interest expense Income before income taxes Income tax expense Net income Additional data: 1. $18,525 6,175 Depreciation expense was $16,600. $241.900 175,600 66,300 24,700 41,600 2,600 39,000 7,800 $31,200

Additional data: 1. 2. 3. 4. 5. (a) Depreciation expense was $16,600. Dividends declared and paid were $26,900. During the year, equipment was sold for $7,800 cash. This equipment originally cost $18,000 and had accumulated depreciation of $10,200 at the time of sale. Bonds were redeemed at their carrying value. Common stock was issued at par for cash. Prepare a statement of cash flows 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).) BONITA COMPANY Statement of Cash Flows

BONITA COMPANY Statement of Cash Flows Adjustments to reconcile net income to $ $

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