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Accountants for Jackson, Inc. have assembled the following data for the year ended December 31, 2018 (Click the icon to view the current accounts.) (Click
Accountants for Jackson, Inc. have assembled the following data for the year ended December 31, 2018 (Click the icon to view the current accounts.) (Click the icon to view the transaction data.) Prepare Jackson's statement of cash flows using the indirect method. Include an accompanying schedule of non-cash investing and financing activities. Complete the statement one section at a time, beginning with the cash flows from operating activities. (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.) i Data Table Jackson, 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: 2018 2017 Current Assets 22.000 Cash Accounts Receivable $ 102,000 $ 63,800 69,600 79,000 74,000 Merchandise Inventory Current Liabilities: Accounts Payable Income Tax Payable 50,000 55 800 14,900 16,300 Print Done Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Data Table Nel Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Transaction Data for 2018: Issuance of common stock for cash Depreciation expense Purchase of equipment with cash Acquisition of land by issuing long-term notes payable Book value of building sold $ 44,000 Payment of notes payable 22,000 Payment of cash dividends 71,000 Issuance of notes payable to borrow cash 118,000 Gain on sale of building 51,000 Net Income $ 50,100 49,000 60,000 4,000 71,500 Print Done Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash Cash Balance, December 31, 2017 Cash Balance, December 31, 2018 Non-cash Investing and Financing Activities: Total Non-cash Investing and Financing Activities Jackson, 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: Acquisition of Land by Issuing Long-term Notes Payable Cash Payment of Dividends Cash Payment of Notes Payable Cash Payment for Acquisition of Equipment Cash Receipt from Issuance of Common Stock Cash Receipt from Issuance of Notes Payable Cash Receipt from Sale of Building Decrease in Accounts Receivable Decrease in Income Tax Payable Depreciation Expense Gain on Sale of Building Increase in Accounts Payable Increase in Merchandise Inventory 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 Non-cash Investing and Financing Activities: Total Non-cash Investing and Financing Activities
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