A.
prepare the statement of flows, using the indirect method.
B.
note X to the statement of Cash flows: during the year, the company purchased equipment costing $_____________ by paying $22,700 cash and issuing a $66,300 bank loan payable.
The income statement and undassified statement of financial position for switch(a,lossom","Crane","uumber", "Ivanhoe", "Orio","Pharoah", "Sheridan", "Sunland,"Carla Vista Sandhar, Wildhorse", "lowon, Crane", " humbur", vanhoe, Oride", "Pharoah","Sheridan, Sunland, Carla Vista, Withor n e One Oumber, Inc. follow switch($a, BLOSSOM, CRANE, CULLUMBER", "IVANHOE, ORIOLE, PHAROAH","SHERIDAN","SUNLAND CARLA VISTA", "SANDHILL", "WILDHORSE,"BLOSSOM", "CRANE", "CULLUMBER","IVANHOE","ORIOLE","PHAROAH","SHERIDAN,"SUNLAND","CARLA VISTA", "SANDHILL", "WILDHORSE", "BLOSSOM", "CRANE", "CULLUMBER"), INC. Statement of Financial Position December 31 Assets 2017 Cash $98.800 $48,500 Held for trading investments 129.000 115.500 Accounts receivable 71,500 41,200 Inventory 122,100 94.400 Prepaid expenses 19,000 28,200 Equipment 284,500 254,000 Accumulated depreciation (50,000) (54000) Totalsts $674900 $52700 Elables and Shareholders' Equity Accounts payable $99.500 $78,300 Accrued Bates 10,000 7.900 Bank loan payable 78,400 149,600 Common shares 240.000 165.000 Retained earnings 247.000 127,000 Total abilities and shareholders' equity 3674,900 $527,800 switch (Sa. BLOSSON, CRANE, CULLUMBER",IVANHOE ORIOLEPHAROAK", SHERIDAN","SUNLAND","CARLA VISTA"-SANDHILL WILDHORSE BLOSSON", "CRANE".FOULLUMBER. IVANIDE","ORIOLEPHAROAKT, SHERIDAN-SUNLAND" "CARLA VESTA","SANDHILL", "WILDHORSE", "BLOSSON", "CRANE", "CULLUMBER"), INC. Income Statement Year Ended December 31, 2018 Sales $503.550 Cost of goods sold 187,050 Gross profit 3165 Operating expenses 116.400 Income from scrations 200,100 Other revenues and expenses Unrealized gain on held for trading investments $13,500 Interest expense (4,750) 8,750 Income before income tax 208,850 Income tax expense 42.000 Net Income Additional information: 1. Prepaid expenses and accrued liabilities relate to operating expenses. 2. An unrealized gain on held for trading investments of $13,500 was recorded. 3. New equipment costing $89,000 was purchased for $22,700 cash and a $66,300 long-term bank loan payable. 4. Old equipment having an original cost of $58,500 was sold for $1,900. 5. Accounts payable relate to merchandise creditors. 6. Some of the bank loan was repaid during the year. 7. A dividend was paid during the year. 8. Operating expenses include $46,600 of depreciation expense and a $6,000 loss on disposal of equipment. C ONSORCANE CULLUMBERS, VANDET.CORBOLETARDATERIAN URLAND CARLA VISTA". "SANDHELL WILDWORSE", "LOSSON", "CRANE CELLER, TVAROR, ORIOLE, "PHARGANT, SHERIDANT, SUNLANDT, CARLA VISTA",SANDELL,"WILDORSE,LOSSORT,CRANE, CURLUMBERT cm . Cateries De Lopetet joated for inves Procesos d e ng activities Becaused by an act Tech Cash Juary Note X to the statement of Cash Flows: During the year, the con t e n tcoin 100 Cash The income statement and unclassified statement of financial position for switch(a,lossom", "Crane", " umber", "Ivanhoe, Oriole","Pharoah", "Sheridan","Sunland. Carta Vista", "Sandhar, Wildhorse","lossom","Crane", "Cullumber, Tahoe", "Orice","Pharoah", "Sheridan", "Sunland","Carla Vista, Sand , Wildhorse"," son", "Crane", "Qullumber), Inc. follow: switch (S, BLOSSOM "CRANE CULLUMBER IVANHOEY ORIOLEY PHAROAH, SHERIDAN VISTA", "SANDHILL", "WILDHORSE", "BLOSSOM", "CRANE", "CULLUMBER","IVANHOE","ORIOLE", "PHAROAH","SHERIDAN,"SUNLAND", "CARLA SUNLAND, CARLA VISTA", "SANDHILL", "WILDHORSE", "BLOSSOM", "CRANE","CULLUMBER"), INC. Statement of Financial Position December 31 Assets $981300 $48,500 Held for trading investments 129.000 115,500 Accounts receivable 71,500 41,200 Inventory 122,100 94,400 Prepaid expenses 19.000 28.200 Equipment 284.500 254,000 Accumulated depreciation (50.000) (54,000) Total assets $64.900 $527,800 Liabilities and Shareholders' Equity Accounts payable $99,500 $78,300 Accrued abilities 10.000 Bank loan payable 78.400 149,600 Common shares 240,000 165,000 Retained earnings 247.000 127,000 Total abilities and shareholders' equity 3670 000 $522,800 7.900 switch(sa, BLOSSOM CRANE CULLUMBER" IVANHO "ORIOLE", "PHAROAKSHIRIDAN SUNLAND CARLA VISTA" -SANDHILE WIL DIORSE BLOSSON" "CRANE" CULLUMBER", "TVANHOE","ORIOLE","PHAROAK","SHERIDAN-SUNLAND" "CARLA VESTA" -SANDHILL" WILDHORSE BLOSSONCRANE CULLUMBER"), INC Income Statement Year Ended December 31, 2018 $500.550 Cost of goods sold 187.050 Gross profit 316,500 Operating expenses 116,400 Income from operations 200,100 Other revenues and expenses Unrealized gain on held for trading investments $13.500 Interest expense (4,750) 8.750 Income before income tax 2087850 Income tax expense 42.000 Net Income 3166,850 Additional information: 1. Prepaid expenses and accrued liabilities relate to operating expenses. 2. An unrealized gain on held for trading investments of $13,500 was recorded. 3. New equipment costing $89,000 was purchased for $22,700 cash and a $66,300 long-term bank loan payable. 4. Old equipment having an original cost of $58,500 was sold for $1,900. 5. Accounts payable relate to merchandise creditors. 6. Some of the bank loan was repaid during the year. 7. A dividend was paid during the year. 8. Operating expenses include $46,600 of depreciation expense and a $6,000 loss on disposal of equipment. with . BLOSSON", "CRANE", CULLUMBERT, TVAROE", ORIOLE. PARDATA SHERIDAN","SUNLAND", "CARLA VISTA","SANDHILL","WILDHORSE","LOSSON", "CRANET, CLUBER, TVANROE, CORIOLE, PROAT, SHERIDAN, SUNLAND", "CARLA VISTA SANDHILL WILDHORSE", "LOSSORT"CRANE, CULLUMEEKINC. la directed Cash flows from spe c tives Net income Adjustments to reconcile net income to Tot cash provided by perting activities Depreciation expense Condomt Unrealed in on held fortring s . rencontre bres de out and proved by con
