Bradley-link’s december 31, 2021, balance sheet included the following items: long-term liabilities ($ in millions) 9.6% convertible bonds, callable at 101 beginning in 2022, due 2025 (net of unamortized discount on $2) [note 8] $198 10.4% registered bonds callable at 104 beginning in 2031, due 2035 (net of unamortized discount on $1) [note 8] 49 shareholders’ equity 4 equity—stock warrants. Prepare the journal entry to record the exercise of the warrants in December 2021

Prepare the operating activities section—indirect method.(lo 4), apthe income statement of paxson company is presented here. paxson companyincome statementfor the year ended november 30, 2014sales revenue $7,600,000cost of goods sold beginning inventory$1,900,000 purchases4,400,000goods available for sale6,300,000 ending inventory1,600,000total cost of goods sold 4,700,000gross profit 2,900,000operating expenses selling expenses450,000 administrative expenses700,0001,150,000net income $1,750,000additional information: prepare the operating activities section—indirect 1. accounts receivable decreased $380,000 during the year, and inventory decreased $300,000.2. prepaid expenses increased $150,000 during the year.3. accounts payable to suppliers of merchandise decreased $350,000 during the year.4. accrued expenses payable decreased $100,000 during the year.5. administrative expenses include depreciation expense of $110,000.instructionsprepare the operating activities section of the statement of cash flows for the year ended november 30, 2014, for paxson company, using the indirect method. net cash provided $1,940,000