5/22/2020 Data Table Cast Exercise Equipment, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue $ 716,000 340,000 Cost of Goods Sold Gross Profit 376,000 Operating Expenses: Depreciation Expense $ 47,000 205,000 Other Operating Expenses Total Operating Expenses 252,000 $ 124,000 Net Income 5/22/2020 Data Table Cast Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Current Assets: Cash $ 21,000 $ 17,000 Accounts Receivable 52,000 45,000 Merchandise Inventory 87,000 92,000 Long-term Assets: Plant Assets 267,900 222,200 Accumulated DepreciationPlant Assets (38,900) 99,000 (34,200) 81,000 Investments $ 488,000 $ 423,000 Total Assets Liabilities Current Liabilities: $ 80,000 $ 79,000 Accounts Payable Salaries Payable 4,000 5,500 Long-term Liabilities: 58,000 71,000 Notes Payable TO bilities 142,000 155,500 Stockholders' Equity Common Stock, no par R + Earnings 46,000 300,000 38,000 229,500 Total Stockholders' Equity 346,000 267,500 $ bilities and Stockholders' Equity 488,000 $ To 423,000 Cast Exercise Equipment, Inc. reported the following financial statements for 2018: (Click the icon to view the income statement.) (Click the icon to view the comparative balance sheet.) (Click the icon to view additional information.) Prepare the company's statement of cash flows-indirect methodfor the year ended December 31, 2018. Assume investments are purchased with cash. (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. i More Info Cast Exercise Equipment, 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: Cast calculated the following amounts for 2018: Acquisition value of plant assets, S88,000. Payment of dividends, $53,500. Payment of long-term notes payable, S13,000. Cash receipt from lasuance of common stock, $8,000. Cast Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $42,300. No cash was received upon disposal. Print Done Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash Cash Balance, December 31, 2017 Cash Balance, December 31, 2018 Complete the statement one section at a time, beginning with the cash flows from operating activities. nc. 018 Cash Payment for Acquisition of Plant Assets Cash Payment for Investments Cash Payment of Dividends Cash Payment of Notes Payable Cash Receipt from Issuance of Common Stock Decrease in Merchandise Inventory Decrease in Salaries Payable Depreciation Expense Gain on Disposal of Plant Assets Increase in Accounts Payable Increase in Accounts Receivable Nat Cach Drovided hull load for Onarotina Antivities