The following information was taken from the financial records of the XYZ Company for 2022. End of Year Beginning of Year $345,000 $123,000 Cash Accounts Receivable Merchandise Inventory Prepaid Insurance Accounts Payable (creditors) 268,500 172,900 14,000 117,400 Wages Payable 24,500 21,000 The net income reported on the income statement for the current year was $206,000, which included a gain on sale of investments of $4,000 (The investments had a book value of $20,000). Depreciation expense recorded on store equipment for the year amounted to $85,000. Change in Non-Current Assets, Non-Current Liabilities, and Equity Accounts: Long-term investments (10,000) Property, plant and equipment 50,000 Bonds payable (10,000) Common stock 15,000 255,000 193,500 17,000 100,000 Dividends 10,000 Required: Prepare a complete Statement of Cash Flows - Using the indirect method to prepare the operating activities section (This means all sections of the statement of cash flows)
The following information was taken from the financial records of the XYZ Company for 2022. Year The net income reported on the income statement for the current year was $206,000, which included a gain on gale of imvestments of $4,000 (The investments had a book value of $20,000 ). Depreciation expense recorded on store equipment for the year amounted to $5,000. Change is Non-Current Assets, Non-Current tiabilities, and Equity Accounts: Long-term investments (10,000) Property, plant and equipment 50,000 Bonds payable (10,000) Common stock 15,000 Dividends 10,000 Requited:Prepare a complete Statement of Cash Flows - Using the indirect method to prepare the operating activities section (This means all sections of the statement of cash flows) 
