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Presented here are the financial statements of Bonita Company. 1. Depreciation expense was $16,100. 2....

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Accounting

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Presented here are the financial statements of Bonita Company. 1. Depreciation expense was $16,100. 2. Dividends declared and paid were $23,700. 3. During the year, equipment was sold for $8,600 cash. This equipment originally cost $18,700 and had accumulated depreciation of $10,100 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. Further analysis reveals the following. 1. Accounts payable pertain to merchandise suppliers. 2. All operating expenses except for depreciation were paid in cash. 3. All depreciation expense is in the selling expense category. 4. All sales and inventory purchases are on account. (a) Your answer is partially correct. Prepare a statement of cash flows for Bonita Company using the direct method. (Show amounts that decrease cash flow - sign e.g. -15,000 or in parenthesis e.g. (15,000).) BONITA COMPANY Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Cash Receipts from Customers Less cash payments: To Suppliers $ Sale of Equibment For Operating Expenses For Interest 4000 Net Cash Provided by Operating Activities 34300 Cash Flows from Investing Activities Sale of Equipment 8600

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