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Blossom Company reported the following information for 2022. Blossom Company Comparative Balance Sheets December 31 Change InNet income $436,800 Additional information: 1. Operating expenses include depreciation expense of $112,000. 2. Land was soldPayment of Dividends Net Cash used by Financing Activities Net Increase in Cash Cash at Beginning of Period Cash at End of Pe

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BLOSSOM COMPANY
STATEMENT OF CASH FLOWS (USING INDIRECT METHOD)
FOR THE YEAR ENDED DECEMBER 31, 2022
Particulars Amount
$
Cash flow from operating activities
Net Income 436800
Adjustments to reconcile net income to net cash provided by operating activities
Adjustment for non cash effects
Depreciation expense 112000
Loss on disposal of equipment 5600
Change in operating assets & liabilities
Increase in Accounts receivable -112000
Increase in merchandise inventory -123200
Increase in prepaid expenses -5600
Increase in accounts payable 8400
Decrease in accrued expenses payable -28000
Net cash flow from operating activities (a) 294000
Cash Flow from Investing activities
Equipment purchased -464800
Equipment sold 95200
Land sold 42000
Net cash Flow from Investing activities (b) -327600
Cash Flow from Financing activities
Cash dividends paid -238000
Common stock issued 476000
Bonds paid -140000
Net cash Flow from Financing activities (c) 98000
Net Change in cash c=a+b+c 64400
Beginning cash balance 100800
Closing cash balance 165200
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