SANTOSH MARQUETTE SAIL TOURS, INC.Comparative Balance SheetsDecember 31CashAccounts receivableLandBuildingAccumulated depreciationTotalAccounts payableCommon stockRetained earningsTotal2023$ 21,57018,20018,00070,000(15,000)$112.770$ 12,37075,00025,400$112.770Additional information:1. Net income was $27,900. Dividends declared and paid were $22,500.2022$ 10,70023,40026,00070,000(10,000)$120,100$31,10069,00020,000$120.1002. All other changes in noncurrent account balances had a direct effect on cash flows, except thechange in accumulated depreciation. The land was sold for $5,900. The loss on sale of land is$2,100.Instruction: Prepare a statement of cash flows for 2023 using the indirect method.?

Name: SANTOSH MARQUETTE SAIL TOURS, INC.Comparative Balance SheetsDecember 3
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Description: SANTOSH MARQUETTE SAIL TOURS, INC.Comparative Balance SheetsDecember 31CashAccounts receivableLandBuildingAccumulated depreciationTotalAccounts payableCommon stockRetained earningsTotal2023$ 21,57018,20018,00070,000(15,000)$112.770$ 12,37075,00025,40

The cash flow statement is prepared at the end of the period to know the cash position. It reflects…

Answered: Prepare a statement of cash flows for…

Business

Accounting

Prepare a statement of cash flows for 2023 using the indirect method.

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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