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A statement of cash flows for Friendly Markets, Inc., for 20X1 appears below. Required: Prepare the worksheet that would be made to prepare a cash
A statement of cash flows for Friendly Markets, Inc., for 20X1 appears below.
Required:
Prepare the worksheet that would be made to prepare a cash flow statement of the numbered items. For example, the worksheet entry for item (1) is as follow:
Cash (operations-net income) | $161,442 |
Retained earnings | $161,422 |
Operations (1) Net income $1,161,442 Adjustments for noncash transactions: (2) Depreciation and amortization (3) Retirement contributions paid in common stock (4) Deferred income taxes (5) Loss on disposal of property, plant, and equipment (6) Loss on sale of investments (7) Net amortization of investments Change in operating assets/liabilities providing (requiring) cash: (8) Trade receivables (9) Merchandise inventories (10) Prepaid expenses (11) Accounts payable and accrued expenses (12) Self-insurance reserves (13) Federal and state income taxes (14) Other noncurrent liabilities Net cash provided by operating activities Investing (15) Payment for property, plant, and equipment (16) Proceeds from sale of property, plant, and equipment (17) Payment for investments (18) Proceeds from sale of investments Net cash used in investing activities Financing (19) Payment for acquisition of common stock (20) Proceeds from sale of common stock (21) Dividends paid (22) Other, net Net cash used in financing activities Net increase in cash Cash at beginning of year Cash at end of year 496,106 256,110 27,018 32,482 6,801 15,625 (140,082) 2,302 (5,825) 103, 014 (14,381) 33,186 24,4341,998,232 (693,489) 4,150 (1,133,449) (1,045,407)777,381 (629,453) 152,096 (325,295) 18,530(784,122)168,703201,813$370,516
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