A simplified balance sheet for Supernova Inc. contain the following amounts at the end of 2017 and 2018. Supernova Inc. Balance Sheet As at October 31 2018 2017 Assets Current Assets Cash $41,600 $8,100 Accounts Receivable $14,200 $6,200 Prepaid Expenses $2,600 $2,000 Merchandise Inventory $26,200 $12,500 Total Current Assets $84,600 $28,800 Noncurrent Assets Equipment $177,000 $168,000 Less: Accumulated Depreciation $-27,200 $-19,400 Total Noncurrent Assets $149,800 $148,600 Total Assets $234,400 $177,400 Liabilities Current Liabilities $24,100 $24,100 Long-Term Liabilities $28,000 $38,000 Total Liabilities $52,100 $62,100 Stockholders' Equity Paid-In Capital Preferred Stock $67,000 $55,000 Common Stock $27,000 $12,000 Noncurrent Assets Equipment $177,000 $168,000 Less: Accumulated Depreciation S-27,200 $ 19,400 Total Noncurrent Assets $149,800 $148,600 Total Assets $234,400 $177.400 Liabilities Current Liabilities $24,100 $24,100 Long-Term Liabilities $28,000 $38,000 Total Liabilities $52,100 $62,100 Stockholders' Equity Paid-in Capital Preferred Stock $67,000 $55,000 Common Stock $27,000 $12,000 Additional Paid In Capital $9,000 Total Paid-In Capital 5103,000 $67,000 Retained Earnings $79,300 $48,300 Total Stockholders' Equity $182,300 $115,300 Total Liabilities and Equity $234,400 177,400 Assume current liabilities include only items from operations (eg, accounts payable, taxes payable). Long-term liabilities include items from financing le.g. bonds and other long-term liabilities). Note that the company did not sell any equipment and did not borrow any additional long term liabilities throughout the year Prepare the cash flow statement for 2018 using the indirect method. Assume no dividends were declared or paid in 2018 Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash, Supernova Inc. Cash Flow Statement For the Year Ended October 31, 2018 Cash Flow from Operations Net Income Adjustments to reconcile Net Income to Cash Depreciation Expense Change in Operating Assets and Liabilities Increase in Accounts Receivable Increase in Office Supplies Increase in Merchandise Inventory Net Cash Provided (Used) by Operating Activities Cash Flow from Investing Activities Purchase of Equipment Net Cash Provided (Used) by Investing Activities Cash Flow from Financing Activities Issuance of Stock Repayment of Long-Term Liabilities Depreciation Expense Change in Operating Assets and Liabilities Increase in Accounts Receivable Increase in Office Supplies Increase in Merchandise Inventory Net Cash Provided (Used) by Operating Activities Cash Flow from Investing Activities Purchase of Equipment Net Cash Provided (Used) by Investing Activities Cash Flow from Financing Activities Issuance of Stock Repayment of Long-Term Liabilities Net Cash Provided (Used) by Financing Activities Net Increase (Decrease) in Cash Cash at the Beginning of the Year Cash at the End of the Year
