4. Now that Allisha McKay (see Question 3) has compiled the sources and uses of funds information she needs, she is ready to prepare The Fred Proffet Company's SCF for this year. Help her complete the company's SCF by using the information taken from the following Condensed Income Statement and Statement of Retained Earnings for This Year, as well as This Year and Last Year's Balance Sheets shon. in the previous Question 3. Then, answer the questions that follow: (Continued) NET CASH FLOW FROM FINANCING ACTIVITIES Decrease in Notes Payable Increase in Long Term Debt Increase in Capital Stock (Common Stock Paid in Capital) Dividends Pald Net Cash Flow from Financing Activities Net Increase in Cash This Year Gash at the beginning of This Year Cash at the end of This Year SUPPLEMENTARY DISCLOSURE OF CASH FLOW INFORMATION Cash paid during the year for Interest Income Taxes a. What is Allisha's proper entry for "Net Cash Flow from Operating Activities"? b. What is Allisha's proper entry for "Net Cash Flow from Investing Activities"? c. What is Allisha's proper entry for "Net Cash Flow from Financing Activities" d. What is Allisha's proper entry for "Net Increase in Cash This Year? e. Since all changes in cash are accounted for in the SCF. what is the purpose of the "Supplementary Disclosure of Cash Flow Information" portion of the statement? 3. The Fred Proffet Company has been in the contract food service management business for many years. Their clients choose the Proffet Company for its creativity and attention to detail. Allisha McKay is the person who prepares the summary of sources and uses of funds for the Proffet Company. Help her do that by using then belante sheets oprigte and the localate the company's sources and uses of funds, using arrows to indicate the differences where appropriate, and then answer the questions that follow. The Fred Proffet Company Balance Sheets December 31, Last Year and This Year Last Year ($) This Year ($) 1 1 Sources Uses ASSETS Current Assets Cash Marketable Securities Net Receivables Inventories 336,000 1.240,000 1,520,000 844.000 550.000 1,200,000 1,550,000 830.000 (continued) 188 Chapter 5 The Statement of Cash Flow. 9,000 300.000 Total Current Assets 1.500.000 1.200.000 Property and Equipment Les Acmed Depreciation Net Property and Equipment 975.000 70.000 TOTAL ASSETS 720.000 405.000 LIABILITIES AND OWNERS EQUITY Current Liabilities Accounts Payable Notes Payable Other Gurrent Liabilities Total Current Liabilities 564,000 154.000 G000 1.350.000 165,000 90,000 500.000 955.000 Long-Term Liabilides Long-Term Debt Total Liabilities 720.000 2,070000 1.100.000 2.055.000 Owners' Equity Common Stock Paid in Capital Retained Earnings Total Owners' Equity 300.000 1.200,000 1.146,000 2.646.000 320.000 1.250,000 1.250 000 2,850,000 TOTAL LIABILITIES AND OWNERS' EQUITY 4.720.000 4.905,000 TOTAL SOURCES AND USES OF FUNDS 2. Did the change in cash reflect a source or a use of fundse What was the amount of that change? b. Did the change in net receivables reflect a source or a tase of funds What was the amount of that change 6. Did the change in notes payable reflect a source or use of fundse What was the amount of that change d. Did the change in retained earnings reflect anonice ora use of funda? What was the amount of that change e. What was the total amount of sources and use of funde 4. Now that Allisha Mckay (see Question 3) has compiled the sources and use of funds information she neers, she ready to prepare The Fred Proffet Company's SCF for this year. Statement and Statement of Retained Earnings for This Year, as well as This Year and Last Year's Balance Sherohet Help her complete the companys SCF by using the information taken from the following Condensed Income the previous Question. Then, answer the questions that follow