14-34A SITlal 10) 3 Question Help A click the icon to view the additional information.) The 2018 income statement and comparative balance sheet of Granite Rock, Inc. follow: Click the icon to view the income statement.) (Click the icon to view the comparative balance sheet.) Read the requirements Requirement 1. Prepare the 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. If a box is not used in the statement, leave the box empty, do not select a label or enter a zero.) Complete the statement one section at a time, beginning with the cash flows from operating activities. Granite Rock, Inc. 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. 5 parts remaining Clear All Check Answer what to study next, go to your study Pran. All Prtsen Prisen Home Home End PgUp i Requirements - X mp me ar 1. Prepare the 2018 statement of cash flows, formatting operating activities by the indirect method. 2. How will what you learned in this problem help you evaluate an investment? 0 stat x is Print Done en al Ye vitie Additionally, Granite Rock purchased land of $22,900 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 $0. The cost and accumulated depreciation of the disposed asset was $11,340.The plant acquisition was for cash. Inca ting Print Done ny number in the input fields and then click Check Answer. Clear All Study Plan i Data Table Year Ended December 31, 2018 Net Sales Revenue $ 443,000 206,200 Cost of Goods Sold Gross Profit 236,800 $ 79,400 15,000 10,500 Operating Expenses: Salaries Expense Depreciation ExpensePlant Assets Other Operating Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Interest Revenue 104,900 131,900 8,600 (21,900) Interest Expense Total Other Income and (Expenses) Net Income Before Income Taxes (13,300) 118,600 19,800 Income Tax Expense Net Income S 98,800 Print Done - X Data Table December 31, 2018 and 2017 2018 2017 Assets Current Assets: Cash $ 26,000 $ 26,300 15,200 25,100 91,100 79,200 2 Accounts Receivable Merchandise Inventory Long-term Assets: Land Plant Assets 34,900 116,240 (18,340) 12,000 107,380 (14,680) Accumulated Depreciation-Plant Assets $ 264,300 $ 236,100 Total Assets Liabilities Current Liabilities: $ 35,900 $ Accounts Payable Accrued Liabilities 30,700 30,100 28,900 Long-term Liabilities: 77.000 101 000 Print Done Plan. Data Table 31, 201 Long-term Assets: Land Plant Assets 34,900 116,240 (18,340) 264,300 $ 12,000 107,380 (14,680) Accumulated Depreciation--Plant Assets $ 236,100 Total Assets Liabilities Current Liabilities: $ 30,700 35,900 $ 28,900 30,100 Accounts Payable Accrued Liabilities Long-term Liabilities: Notes Payable Total Liabilities w 77,000 101,000 141,800 161,800 Stockholders' Equity Common Stock, no par 88,800 33,700 64,600 9,700 Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 74,300 122,500 264,300 $ $ 236,100 Print Done e ay Pran. (1) PrtScn Hom F4 F5 F6 F7 FB (Click the icon to view the additional information.) The 2018 income statement and comparative balance sheet of Granite Rock, Inc. follow: ! Click the icon to view the income statement.) (Click the icon to view the comparative balance sheet.) Read the requirements Granite Rock, Inc. Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: 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 5 parts remaining Clear All e what to study next, go to your study Plan Score: 0 of 11 pts 5 of 5 (0 comple P14-34A (similar to) The 2018 income statement and comparative balance sheet of Granite Rock, Inc. follow: (Click the icon to view the income statement.) (Click the icon to view the comparative balance sheet.) Rea Requirement 1. Prepare the 2018 statement of cash flows, formatting operating activities by the indirect method. (L statement, leave the box empty, do not select a label or enter a zero.) Complete the statement one section at a time, beginning with the cash flows from operating activities. Granite Rock, Inc. Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Net Cash Provided by (Used for) Operating Activities AM 2020 Choose from any list or enter any number in the input fields and then click Check Answer. 26 5 parts Clear All remaining F1 F2 F3 F4 F5 F6 the icon to view the additional information.) Read the requirements. et method. (Use a minus sign or parentheses for amounts that result in a decrease in cash. i More Info N Additionally, Granite Rock purchased land of $22,900 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 $0. The cost and accumulated depreciation of the disposed asset was $11,340.The plant acquisition was for cash. Print Done - Requirements 1. Prepare the 2018 statement of cash flows, formatting operating activities by the indirect method. 2. How will what you learned in this problem help you evaluate an investment? Print Done Clear All Check A Data Table - formatio Granite Rock, Inc. Income Statement mounts th: al Year Ended December 31, 2018 Net Sales Revenue TH $ 443,000 206,200 o 236,800 31 $ 79,400 15,000 10,500 104,900 Cost of Goods Sold Gross Profit Operating Expenses: Salaries Expense Depreciation Expense-Plant Assets Other Operating Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Interest Revenue Interest Exper Total Other Income and (Expenses) Net Income Before Income Taxes Income Tax Expense 131,900 8,600 (21,900) (13,300) 118,600 19,800 Net Income 98,800 elds Print Done Clear All e sheet Data Table - ation. sheet.) December 31, 2018 and 2017 2018 2017 Is that flows, f or ented Assets ning with Current Assets Rock, Ind Cash $ 26,000 $ 15,200 f Cash Fl 25,100 Accounts Receivable Merchandise Inventory Long-term Assets: 26,300 79,200 cember 91,100 Land 34,900 ash Plant Assets 116,240 (18,340) 12,000 107,380 (14,680) Accumulated Depreciation-Plant Assets Total Assets $ 264,300 $ 236,100 Liabilities Current Liabilities: S 35,900 $ 30,700 30,100 28,900 Accounts Payable Accrued Liabilities Long-term Liabilities: Notes Payable Total Liabilities 77,000 101,000 vities 141,800 161,800 Stockholders' Equity e input field Print Done PrtScn Er F4 F5 F6 Home F9 F7 F8 % & ( ) eet Data Table ption.) -) 26,300 25,100 79,200 91,100 s that res ter Accounts Receivable Merchandise Inventory Long-term Assets: Land vith nd Plant Assets 34,900 116,240 (18,340) 264,300 $ 12,000 107,380 (14,680) F Accumulated Depreciation -Plant Assets $ 236,100 Total Assets Liabilities Current Liabilities: 35,900 $ 28,900 30,700 30,100 77,000 101,000 141,800 161,800 Accounts Payable $ Accrued Liabilities Long-term Liabilities: Notes Payable Total Liabilities Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity $ Total Liabilities and Stockholders' Equity 88,800 33,700 64,600 9,700 74,300 122,500 264,300 $ 236,100 Print Done P 14-34A ( Sllar to) (Click the icon to view the additional information.) The 2018 income statement and comparative balance sheet of Granite Rock, Inc. follow: (Click the icon to view the income statement.) Click the icon to view the comparative balance sheet.) Read the requirements Requirement 1. Prepare the 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 statement, leave the box ompty: do not select a label or enter a zero.) Complete the statement one section at a time, beginning with the cash flows from operating activities Granite Rock, Inc. Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Net Cash Provided by (Used for) Operating Activities M 20 Choose from any list or enter any number in the input fields and then click Check Answer 5 parts remaining Clear All DII C)