1 of 1 (0 complete) Y Score: 0%, 0 of P14-34A (similar to) EQuestion Help The 2018 income statement and comparative balance sheet of Granite Rock, Inc follow EEB (Click the icon to view the income statement) (Click the icon to view the addional nformation.) Read the requirement EEB (Click the icon to view the comparative balance sheet) Requirement 1. Prepare he 2018 statement of cash flows, formatting operating activities by the indirect method. (Use a minus sign or parentheses for amounts that result in a decrease in cash I a box is not us the statement, leave the box empty; do not select a label or enter a zero.) Complete the statement one secion at a time, beginning with the cash fows from operating activiies Granite Rock, Ic. Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities Net Income Adjustments to Reconcile Not Income to Net Cash Provided by (Used for) Operating Activities Choose from any list or enter any number in the input fields and then click Check Answer Check Answer Clear All Data Table -0 Data Table Granite Rock, Inc. Granite Rock, Ine. Comparative Balance Sheet Income Statement December 31, 2018 and 2017 Year Ended December 31, 2018 cash. 2018 2017 Net Sales Revenue S 435,000 Assets 207,200 Cost of Goods Sold Current Assets: Gross Profit 227,800 Cash S 26,800$ 15,500 Operating Expenses Accounts Receivable 26,700 25,700 S 71,400 Salaries Expense Merchandise Inventory 80,000 91,000 Deprociation Exponse-Plant Assets 14,200 Long-term Assets 0,300 Other Operating Expenses Land 34,800 9,000 95,900 Total Operating Expenses Plant Assets 16,440 103,3830 Operating Income 131,900 (17.540) (14680) Accumulated Depreciation Plant Assets Other Income and (Expenses) $ 267,200 $ 229,900 Interest Revenue 8,600 Total Assets (21.500) Liabilities Interest Expense Print Done Print Done Check An Clear All remaining As ts 2019- Murray 14-34 1 of 1 (0 complete) o) More Info and nto vie Additionally, Granite Rock purchased land of $25,800 by financing it 100% with long-term notes payable during 2018. During the year, there were no sales of land, no retirements of stock, and no treasury stock transactions. A plant asset was disposed of for $O. The cost and accumulated depreciation of the disposed asset was $11,340. The plant acquisition was for cash. ne co e 201 sign or p x emp e secti Print Done Y Requirements ating Activitie 1. Prepare the 2018 statement of cash flows, formatting operating activities by the indirect method. oncile Net Inco or) Operating 2. How will what you leamed in this problem help you evaluate an investment? Print Done or enter any number in the input fields and then click Check Answer Clear All 1 of 1 (0 complete) Y Score: 0%, 0 of P14-34A (similar to) EQuestion Help The 2018 income statement and comparative balance sheet of Granite Rock, Inc follow EEB (Click the icon to view the income statement) (Click the icon to view the addional nformation.) Read the requirement EEB (Click the icon to view the comparative balance sheet) Requirement 1. Prepare he 2018 statement of cash flows, formatting operating activities by the indirect method. (Use a minus sign or parentheses for amounts that result in a decrease in cash I a box is not us the statement, leave the box empty; do not select a label or enter a zero.) Complete the statement one secion at a time, beginning with the cash fows from operating activiies Granite Rock, Ic. Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities Net Income Adjustments to Reconcile Not Income to Net Cash Provided by (Used for) Operating Activities Choose from any list or enter any number in the input fields and then click Check Answer Check Answer Clear All Data Table -0 Data Table Granite Rock, Inc. Granite Rock, Ine. Comparative Balance Sheet Income Statement December 31, 2018 and 2017 Year Ended December 31, 2018 cash. 2018 2017 Net Sales Revenue S 435,000 Assets 207,200 Cost of Goods Sold Current Assets: Gross Profit 227,800 Cash S 26,800$ 15,500 Operating Expenses Accounts Receivable 26,700 25,700 S 71,400 Salaries Expense Merchandise Inventory 80,000 91,000 Deprociation Exponse-Plant Assets 14,200 Long-term Assets 0,300 Other Operating Expenses Land 34,800 9,000 95,900 Total Operating Expenses Plant Assets 16,440 103,3830 Operating Income 131,900 (17.540) (14680) Accumulated Depreciation Plant Assets Other Income and (Expenses) $ 267,200 $ 229,900 Interest Revenue 8,600 Total Assets (21.500) Liabilities Interest Expense Print Done Print Done Check An Clear All remaining As ts 2019- Murray 14-34 1 of 1 (0 complete) o) More Info and nto vie Additionally, Granite Rock purchased land of $25,800 by financing it 100% with long-term notes payable during 2018. During the year, there were no sales of land, no retirements of stock, and no treasury stock transactions. A plant asset was disposed of for $O. The cost and accumulated depreciation of the disposed asset was $11,340. The plant acquisition was for cash. ne co e 201 sign or p x emp e secti Print Done Y Requirements ating Activitie 1. Prepare the 2018 statement of cash flows, formatting operating activities by the indirect method. oncile Net Inco or) Operating 2. How will what you leamed in this problem help you evaluate an investment? Print Done or enter any number in the input fields and then click Check Answer Clear All