1 3 agenow.comim/takeAssignment/takeAssignmentMain do?invaker assignments&takeAssignmentSessionLoca tors assignment-takesi Show Me How Calculator Print item Statement of cash flows-indirect method Labels and Amount Descriptions Stat of Cash Flows The comparative balance sheet of Cromme Inc. for December 31. 2016 and 2015, is shown as follows Dec. 31, 2016 Dec 31, 2015 Assets $585 92000 208.96000 617,12000 240,00000 .00 553.12000 16640000) 148.00000) 2,362,08000 $2.057,12000 Cash $625.76000 227,84000 641,76000 Accounts recehvable (net) s Inventories | Investments Land 328.000.00 Equipmest Accunulated depreciation-equipmest 705,12000 Total assets Labilities and Stockhoiders' Equity 12 Accounts payable (nerchandise creditors) " Accrued expenses payable (operating expenses) 4 Dvidends payable 15 Conmon stock, $4 par is Paid-in capital Excess of issue price over par-comman stock 424.480.00 540496000 52,640.00 1920000 100,00000 280 000.00 1303.860.00 120032000 2,362,08000 $2.057,12000 42.24000 24,000.00 150,00000 41750000 i Retated earnings 1Retal liabilities and stochalders' equity theck My Work more Check My Work uses remaining All work saved. Balance for JohnAda Statement of Cash Flows Prepare a statement of cash tlows, using the indirect method of presenting cash fos thom.oxecatin acvsties Refer to the Labels an Amount Descriptions list provided for the exact wordling of the answer choces for text entries Be sure to compiete the statement In the operating actvities section, use the minus sign to indic ate cash oulfiows, decreases in cash and a net cash oulo A required in the investing and financing activties section, use a minus sign only to indic ate a NET cash outfiow for the section Cromme Inc. Statement of Cash Flows Labe) Cash flows from operating activities: 1Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Cash flows from investing activities Previous for Grading Save and Exit Submit Assignment t lunt dcator e assignment-take e Book B:Show Me How Calculator Print item Instructions 1Total assets 2.362,08000$2.057,12000 Liabilities and Stockholders' Equity 2Accounts payable (merchandise creditors) 13 Accrued expenses payable (operating expenses) s Dividends payable 1s Common stack, $4 par ae Paid-in capital: Excess of issue price ever par-common steck 17 Retained earnings Total liabilities and stockholders' equity 424.480.00$404 96000 52.640.00 19,20000 100,00000 1750000280.000.00 1200.32000 2362.08000$2.05712000 42.24000 24,00000 150.00000 505.860.00 Additional data obtained from an examination of the accounts in the ledger for 2016 are as follows A The investments were sold for $280,000 cash. 8. Equipment and land were acquired for cash. C. There were no disposals of equipment during the year D The common stock was issued for cash E. There was a $199,540 credit to Retained Earnings for net income. F. There was a $96,000 debit to Retained Eamings for cash dividends declared Prepare a statement of cash flows, using the indirect method of presenting cast iows tromoeraoactities and Amount Descriptions list provided for the exact wording of the answer choikes for text entries Be sure to cormpiete the heacding of the statement in the operating activities section, use the minus sign to indic ate cash oumiows, decreases in cesh and a net casth outfiow t required in the investing and sinancing actvnbies section, use a minus sign only to inaic ate a NET cash outtiow for secton Refer to the Labets the Check My Work 3 more Check My Work uses remaining All work saved. or John Ada. The comparative balance sheet of Cromme Inc. for December 31, 2016 and 2015, is shown as Dec. 31, 2016 Dee. 31, 2015 Assets 3 Cash 4 Accounts receivable (net) 5 Inventones 6 Investments 7 Land &Equipment 9 Accumulated depreciation-equipment 10 Total assets S625,760.00 $585,920.00 227840.00 208,960.00 641,760.00 617,120.00 0.00 240,000.00 0.00 705,120.00 553,120.00 (166400.00) (148,000.00) $2,362,080.00 $2,057,120.00 328,000.00 Liabilities and Stockholders' Equity 2 Accounts payable (merchandise creditors) $424.480.00 $404,960.00 42,240.00 52,640.00 24,000.0019,200.00 50,000.00 100,000.00 13 Accrued expenses payable (operating expenses) 4 Dividends payable 15 Common stock, $4 par s Paid-in capital: Excess of issue price over par common stock 17 Retained earnings 417,500.00 280,00.00 8 Total liabilities and stockholders' equity Addtional data obtained from an examination of the accounts in the ledger for 2016 are as follows 1,303,860.00 1,200,320.00 $2,362,080.00 $2,057,120.00 A. The investments were sold for $280,000 cash. B. Equipment and land were acquired for cash. C. There were no disposals of equipment during the year. D. The common stock was issued for cash. E. There was a $199,540 credit to Retained Earnings for net income. F. There was a $96,000 debit to Retained Earnings for cash dividends declared. Prepare a statement of cash flows, using the indirect method of presenting cash nows from aperating acthities Refer to the Labels and Amount Descriptions Nst provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement. In the operating activities section, use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow, if requwred. In the investing and financing activites section, use a minus sign only to indicate a NET cash outflow for the section. Prepare a statement of cash flows, using the indtirect method of presenting cash fows from ogerating ae to the Labels and Amount Descriptions Nst provided for the exact wording of the answer choices for text entries sure to complete the heading of the statement In the operating activities section, use the minus sign outflows, decreases in cash and a net cash outflow, if required. In the investing and financing activities section, use a minus sign only to indicate a NET cash outfiow for the section. activities. Refer to indlicate cash Cromme Inc. Statement of Cash Flows 1 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: 6 Changes in current operating assets and liabilities: 10 12 13 Cash flows from investing activities: 14 15 16 17 18 19 Cash flows from financing activities: 20 21