based on the chart and Assuming the business began January 1, 2019 and there were no prior year account balances.Prepare the Statement of Cash Flows.Use the Indirect Method when preparing the Operating Activities section.

AutoSave . Off . - Excel File Home Insert Page Layout Formulas Data Review Developer Help Easy Document Creator QuickBooks Search Share Comments & Cut [B Copy . Calibri - 14 - A" A" ab Wrap Text General Normal 3 Normal Bad Good Neutral AutoSum Paste 1 Fill AY O Format Painter BIU - - LA. GEE Merge & Center $ ~ % 9 00 20 Conditional Format as |Calculation Explanatory ... Input Linked Cell nsert Delete Format Clear Sort & Find & Ideas Font Alignment Number Styles Cells Editing Ideas BZ X V 01/01/2019 - 12/31/2019 TRIAL BALANCE B D H K M N 01/01/2019 - 12/31/2019 TRIAL BALANCE UNADJUSTED BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE NCOME STATEMENT BALANCE SHEET ACCOUNT ACCOUNT TYPE DEBIT CREDIT CREDIT DEBIT CREDIT DEBIT Cash 326,000 $ $ 420,000 $ Accounts Receivable 2,500 $ 746,000 $ ASSET 450,000 $ 743,500 Inventory 575,000 $ 450,000 450,000 575,000 Building Improvements 575,000 ASSET 650,000 $ 650,000 Accumulated Depreciation-Building Improvements S 650,000 ASSET 65,000 65,000 ASSET 216,000 S S 216,000 S 216,000 Accumulated Depreciation-Machinery and Equipment ASSET 50,00 50,000 Accounts Payable IABILITY 50,000 230,000 Interest Payable 230,000 IABILITY 230,000 2,000 Salaries and Wages Payable 4,800 4,800 LIABILITY 60,000 50,000 Sales Tax Payable LIABILITY 50,000 2,000 Unearned Subscription Revenue LIABILITY $ 2,000 $ 125,000 $ 300,000 $ 125,000 300,000 Lawsuit Liability IABILITY 175,000 750,000 LIABILITY 750,000 Note Payable (PNC Bank) 750,000 20,000 20,000 Bonds Payable LIABILITY 20,000 Preferred Stock-1,000 shares authorized, $5 par value EQUITY 100,000 5,000 100,000 5,000 Common Stock-50,000 shares authorized, $1 par value 5,000 10,000 Paid-In Capital-Stock Options EQUITY S 250,000 250,000 10,000 250,000 Paid-In Capital In Excess Of Par - Preferred Stock 274,000 274,000 EQUITY 274,000 147,000 Retained Earnings 147,000 147,000 Sales Revenue REVENUE - SALES 1,670,000 S 125,000 Subscription Revenue REVENUE - SALES 1,795,000 500,000 1,795,000 500,000 EXPENSE - COST OF GOODS SOLD | $ 433,000 $ 500,000 Cost of Goods Sold 30 Salaries and Wages Expense 433,000 433,000 EXPENSE - OPERATING 140,000 $ 60,000 200,000 200,000 Compensation Expense EXPENSE - OPERATING S 250,000 250,000 Depreciation Expense EXPENSE - OPERATING 115,000 $ 250,000 115,000 15,000 Income Tax Expense EXPENSE - INCOME TAXES 50,000 $ 50,000 50,000 Interest Expense EXPENSE - OTHER 5,300 35 Lawsuit Loss EXPENSE - OTHER S 5,300 $ 750,000 36 750,000 750,000 Totals 2,955,000 $ 2,955,000 1,610,300 $ 1,610,300 $ 4,565,300 $ 4,565,300 $ 37 Net Income 1,803,300 $ 2,295,000 $ 2,634,500 $ 38 Totals 491,700 491,700 39 2,295,000 2,634,500 Instructions & Grading 1. Adjusting Entries 2. Worksheet 3. Income Statement 4. Retained Earnings Statement 5. Balance Sheet 6. Statement of Cash Flows 7. Note Disclosures + Average: 403936.2416 Count: 230 Sum: 60186500 100% e a P M 11:45 AM 4/25/2020