can someone help me fill these out??
Continuing Cookie Chronicle 12 Natalie has prepared the balance sheet and income statement of Cookie & Coffee Creations Inc. and would like you to prepare the cash flow statement. The comparative balance sheet of Cookie & Coffee Creations Inc. at October 31, 2023 for the years 2023 and 2022 and the income statement for the year ended October 31, 2023, are presented below. COOKIE & COFFEE CREATIONS INC. Balance Sheet October 31, Assets 2023 2022 Cash $29,074 $11,550 Accounts receivable 3,250 2,710 Inventory 7,897 7,450 Prepaid expenses 5,800 6,050 Equipment 102,000 75,500 Accumulated depreciation- equipment (25,200) (9,100) Total assets $122,821 $94,160 Liabilities and Stockholders' Equity 2018 2017 Accounts payable $1,150 $2,450 Income taxes payable 9,251 7,200 Dividends payable 27,000 27,000 Salaries and wages payable 7,250 1,280 Interest payable 188 0 Note payable 10,000 0 Preferred stock, no par, $6 cumulative, 3,000 and 2,800 shares issued, respectively 15,000 14,000 Common stock, $1 par-25,930 shares issued and outstanding 25,930 25,930 Additional paid-in capital-treasury stock 250 Retained earnings 26,802 16,800 Less: Treasury stock 0 (500) Total liabilities and stockholders' equity $122,821 $94,160 COOKIE & COFFEE CREATIONS INC. Income Statement Year Ended October 31, 2023 Sales $485,625 Cost of goods sold 222,694 Gross profit 262,931 Operating expenses Salaries and wages expense $147,979 Depreciation expense 17,600 Other operating expenses 48,186 213,765 Income from operations 49,166 Other expenses Interest expense $413 Loss on disposal of plant assets 2,500 2,913 Income before income tax 46,253 Income tax expense 9,251 Net income $37,002Additional information: 1- Equipment (cost $4,500 and book value $3,000) was disposed of at the beginning of the year for $500 cash and replaced with new equipment purchased for $4,000 cash. 2- Additional equipment was bought for $14,000 on November 1, 2022. A $12,000 note payable was signed. The terms provide for equal semi-annual installment payments of $2,000 on May 1 and November 1 of each year, plus interest of 5% on the outstanding principal balance. 3- Other equipment was bought for $13,000 cash. 4- Dividends were declared on the preferred and common stock on October 15, 2023, to be paid on November 15, 2023. 5- Accounts payable relate only to merchandise creditors. 5- Prepaid expenses relate only to other operating expenses. Prepare a statement of cash flows for Cookie & Coffee Creations Inc. for the year ended October 31, 2023, using the indirect method. (Show amounts that decrease cash ow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) or in parenthesis e.g. (15,000).) COOKIE & COFFEE CREATIONS INC. Statement of Cash Flows (Indirect Method) tudy $ Adjustments to reconcile net income to LINK TO TEXT + 5 . . .Study COOKIE & COFFEE CREATIONS INC. Statement of Cash Flows (Direct Method) $ $ $ Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT Question Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER + 5
