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Accountants for Smithson, Inc. have assembled the following data for the year ended December 31, 2018: (Click the icon to view the current accounts.)
Accountants for Smithson, 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 Smithson'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.) Smithson, Inc. Data Table 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: Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: 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 Current Assets: Cash Accounts Receivable Merchandise Inventory Current Liabilities: Accounts Payable Income Tax Payable Data Table Transaction Data for 2018: Print Done 2018 2017 $ 90,600 $ 18,000 64,500 69,400 82,000 78,000 57,700 55,300 14,100 17,200 Issuance of common stock for cash $ 46,000 Payment of notes payable $ 48,100 Depreciation expense 18,000 Payment of cash dividends 53,000 Purchase of equipment with cash Acquisition of land by issuing long-term notes payable Book value of building sold 76,000 Issuance of notes payable to borrow cash 64,000 113,000 51,000 Net income Gain on sale of building 5,500 70,500 Print Done
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