BUS 120-Financial Acct-Fall 2018-Sec 1088 Save Chapter 11 Homework: HW 11 Score: 0 of 7 pts E11-15A (similar to) 2 of 6 (1 complete) Hw Score: 14.58%, 7 of 48 pts Question Help The income statement and additional data of Chapy Services, Inc., follow (Click the icon to view the income statement ) (Click the loon to view the additional data.) Read the requirements Requirement 1. Prepare Chapy Services' statement of cash flows for the year ended September 30, 2016, using the indirect method. Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use parentheses or a minus sign for numbers to be subtracted.) Chapy Services, Inc Statement of Cash Flows Year Ended September 30, 2016 Cash fows from operating activities: Net income 108000 Adjustments to reconcile net income to net cash provided by operating activities: 26000 Decrease in accounts receivable Increase in Increase in accounts payable Decrease in accrued liabilities 26000 Net cash provided by (used for) operating activities statement of cash flows for the year ended September 30, 2016, using the indirect method. time, beginning with the cash flows from operating activities. (Use parentheses or a minus sigr py Services, Inc. Data Table Chapy Services, Inc. Income Statement Year Ended September 30, 2016 Revenues Sales revenue $ 299,000 11,000 Dividend revenue Total revenues S 310,000 Expenses: Cost of goods sold Salaries expense Depreciation expense Advertising expense Interest expense Income tax expense 100,000 42,000 26,000 14,000 8,000 12,000 Total expenses 202,000 Net income $ 108,000 Print Done Ended September 30, 2016 108000 come to net cash es 26000 ivable bi More Info Additional data: a. Acquisition of fixed assets totaled $130,000. Of this amount, $105,000 was paid in cash and a $25,000 note payable was signed for the remainder. b. Proceeds from the sale of land totaled $34,000. No gain or loss was recognized on the sale. c. Proceeds from issuance of common stock totaled $80,000. d. Payment of long-term note payable was $9,000. e. Payment of dividends was $10,000. f. Data from the comparative balance sheet follow: September 30 Current Assets: Cash Accounts receivable. Inventory Current Liabilities: 2016 2015 .147,000 55,000 87,000 19,000 62,000 76,000 Accrued liabilities 12,000 19,000 Print Done ny