CRIMSON TIDE, INC. STATme. PROBLEM You have been hired at the prestigious accounting firm of Dewey, Cheatem and Howe, LLC. On your first day, one of the partners, Will E. Cheatem hands you the attached financial statements and ask you to prepare the Statement of Cash Flows. The entire financial statement has been completed except for the cash flow statement. Using the Indirect Method, prepare the Statement of Cash Flows for Crimsontide, Inc. as of December 31 , 2021 . CRIMSON TIDE, INC. BALANCE SHEETS December 31, 2021 and 2020 CRIMSON TIDE, INC. STATEMENTS OF INCOME Years Ended December 31, 2021 and 2020 CRIMSON TIDE, INC. SCHEDULES OF COST OF GOODS SOLD Years Ended December 31, 2021 and 2020 CRIMSON TIDE, NNC. SCHEDUT ES OF S\$LLING AND ADMAIISTRATIVE EXPENSAS Years Ended Docenbyr 31, 202t atd 2020 See accountants' foportand notes to finsincial itatements. CRIMSON TIDE, INC. STATEMENTS OF RETAINED EARNINGS Years Ended December 31, 2021 and 2020 .

1. CRIMSON TIDE, INC. STATme. PROBLEM You have been hired at the prestigious
accounting firm of Dewey, Cheatem and Howe, LLC. On your first day, one of the partners, Will
E. Cheatem hands you the attached financial statements and ask you to prepare the Statement of
Cash Flows. The entire financial statement has been completed except for the cash flow
statement. Using the Indirect Method, prepare the Statement of Cash Flows for Crimsontide, Inc.
as of December 31 , 2021 . CRIMSON TIDE, INC. BALANCE SHEETS December 31, 2021
and 2020 CRIMSON TIDE, INC. STATEMENTS OF INCOME Years Ended December 31,
2021 and 2020 CRIMSON TIDE, INC. SCHEDULES OF COST OF GOODS SOLD Years
Ended December 31, 2021 and 2020 CRIMSON TIDE, NNC. SCHEDUT ES OF S$LLING
AND ADMAIISTRATIVE EXPENSAS Years Ended Docenbyr 31, 202t atd 2020 See
accountants' foportand notes to finsincial itatements. CRIMSON TIDE, INC. STATEMENTS
OF RETAINED EARNINGS Years Ended December 31, 2021 and 2020