ACC 2020 Lab-Statement of Cash Flow This Week, Inc. Balance Sheet June 30, 2013 and 2012 Cash Accounts Receivable Merchandise Inventory Prepaid expenses Equipment Accum. Depreciation Equipment Total Assets 2013 42,600 85,000 57,400 5,500 250,000 (35,000) 405,500 2012 30,000 92,400 76,500 4,500 175,000 (19,000) 359,400 Chance (12,600) 7,400 19,100 (1,000) (75,000) 16,000 (46,100) Accounts payable Wages payable Income taxes payable Notes payable (long-term) Common Stock Retained Earnings Total Liab.and S/E 38,000 11,000 6,000 50,000 240,000 60,500 405,500 0 40,000 10,000 5,000 60,000 200,000 44,400 359,400 0 (2,000) 1,000 1,000 (10,000) 40,000 16,100 46,100 proof This Week, Inc. Income Statement For the Year Ended June 30, 2013 441,400 Sales Cost of Goods Sold Depreciation Expense Other Operating Expenses Interest Expense Other (Gains)/Losses Loss on Sale of Equipment Income before Income Taxes Income Tax Expense Net Income 255,800 35,500 62,500 3,000 8,400) 365,200 76,200 26,500 49,700 original cost of $30,000 and accum. Depreciation of $19,500 was sold for $2,100 cash. Additional information: (1) Old equipment with an original cost of $30,000 and (2) New equipment was purchased for $105,000 cash. (3) Cash dividends of $33.600 were paid. (4) Additional shares of stock were issued for cash, 90.p. p id Required: 13 using the indirect method. Prepare a complete statement of cash flows for the 2013 using the This Week, Inc. Statement of Cash Flows (Indirect Method) NAME June 30, 2013 Check Totals Cash Flow from Operating Activities: Net Income per Income Statement Add back non-cash items: Depreciation Adjustments for increases/decreases in Current Assets & Current Liabilities: Accounts Receivable Merchandise Inventory Prepaid expenses Accounts payable Wages payable Income taxes payable Other Gain/Loss Adjustment: Disposal of Fixed Assets Net Cash Flow from Operating Activities 119,100 Cash Flow from Investing Activities: Adds: Proceeds from Sale of Assets Less: Purchase of Equipment Net Cash Flow from Investing Activities (102,900) Cash Flow from Financing Activities: Adds: Sale of Stock Less: Repayment of Debt Dividend paid Net Cash Flow from Financing Activities (3,600) Net Increase/(Decrease) in cash Cash-Beginning Balance Cash-Ending Balance