AutoSave OFF Home Insert Draw Poste K30 Copy of Lab+12+Handout+Sheet+ - Saved to my Mac Arial [A B I U v Page Layout Formulas Datal Review View Tell me v 10 ' ' Wrap Text General v v Merge & Center $%9 00 Cell Conditional Format Formatting as Table Styles Insert Delete Format Share Comments W v Sort & Find & v Filter Select Analyze Data : x fx C D E F G H 1 J L M N 0 P R 8 T V W x Y Z AA A B 1 2 3 4 5 6 Financial Accounting Cash Flow Lab Handout Problem 7 The following data were taken from the financial statements of Dewey. Cheelem & Howe, Inc. 8 9 10 11 12 Assets Cash 13 operating Accounts receivable 14 15 Inventories Investments 17 section 18 16 investment Land Equipment Accumulated Depreciation 19 210,800 (52,800) $587,400 December 31, 2018 2017 $ 58,900 79,200 $ 53,700 86,400 $ 15,200 increase $ 16.2001 155.800 105,500 132,700 45.000 186,000 (45,100) $457 300 $ 25.200 $ (7,700) $110,100 $23.100 $145,000) $105,500 20 21 22 Liabilities & Stockholder's Equity 23 Accounts payable $ 99,300 24 Accrued expenses payable 25 Common Stock, $1 par 32,200 55.000 $ 100,200 24,300 50,000 26 Paid in capital in excess of par 200,000 100,000 27 Retained eamings 190,900 102,900 28 $557,400 $457,300 29 30 31 Additional information: 32 1. Net income for the year was $48,100. 33 2. The investments were sold for $41,000 cash, resulting in a $4,000 loss. 34 3. New equipment costing $35,200 was purchased during the year. 35 4. Equipment was sold at a gain of $5,200. The original cost of the equipment 36 37 38 39 40 41 42 43 Bonus 44 45 46 47 48 was $10.000 and the accumulated depreciation on the equipment sold was $6,000. 5. The company issued 5,000 shares of common stock for $21 per share during the year. REQUIRED: A. In EXCEL, prepare the operating activities section of the statement of cash flows (indirect method). Print your response and bring to class next week. B. What was the selling price of the equipment during the year? C. How much was paid in cash dividends for the year? D. What section of the cash flow statement would the issuance of the common stock be reported in? How much would be reported? Inflow or outflow? E. Show how the equipment account changed during the year (explain the transactions that changed the balance of the account) F. How much depreciation expense was recorded during 2018? 49 50 Problem Sheel3 + Ready 100%