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Score! U of 25 pts 1 of 2 (1 complete) HW Score: 50%, 25 of 50 p CP14-47 (book/static) Question Help Canyon Canoe Company's comparative balance sheet and additional data are shown below (Click the icon to view the comparative balance sheet.) (Click the icon to view the additional data.) Torket Requirement Prepare the statement of cash flows for the year ended December 31, 2019, using the indirect method. (Use a minus sign of parentheses for amounts that result in a decrease in cash (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 emply, do not select a label or enter a zero.) at Sco pts: 14-47 Canyon Canoe Company Statement of Cash Flows Year Ended December 31, 2019 Cash Flows From Operating Activities Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities 417,000 se (19F Choose from any list or enter any number in the input fields and then click Check Answer Check Answer (Click the icon to view 2019 2018 quirement pare the statement of rease in cash (Use and -ct a label or enter a ze Assets Current Assets Cash arentheses for amounts that result in a Jatement, leave the box empty, do not Short-term Investments, net 523,693 $ 23.840 2.422 355 12,125 0 7,600 165 2,000 sh Flows From Operatin et Income djustments to Reconcil ovided by (Used for) Accounts Receivable, net Merchandise Inventory Office Supplies Prepaid Rent Property. Plant, and Equipment Land Building Canoes Office Furniture and Equipment Accumulated DepreciationPP&E 85.000 35,000 12,000 155,000 610,000 12,000 150,000 (35,180) 1,442,190 $ (850) 153,040 Total Assets $ se from any list or en Print Done the icon to view Liabilities Current Liabilities: ent ne statement of in cash (Use am abel or enter a ze arentheses for amounts that result in a fatement, leave the box empty: do not 5,195 $ 745 700 4.250 15.000 350 3,050 295 325 1,250 500 350 ws From Operati ome ments to Reconcile ed by (Used for) Accounts Payable Utilities Payable Telephone Payable Wages Payable Notes Payable Interest Payable Uneamed Revenue Long-Term Liabilities: Notes Payable Mortgage Payable Bonds Payable Discount on Bonds Payable Total Liabilities Stockholders' Equity 7,200 7,200 405,000 210,000 (1,270) 647,670 12,520 Stockholders' Equity Paid-In Capital: Preferred Stock Paid-In Capital in Excess of ParPreferred Common Stock 60,000 10,000 186,000 150,000 388.520 136,000 Paid-In Capital in Excess of Par-Common 4,520 Retained Earnings 794 520 Total Stockholders' Equity 140,520 153,040 $ 1,442,190 $ Total Liabilities and Stockholders' Equity para ome flows sign hitheses for amounts that result in ment, leave the box empty, do no The income statement for 2019 included the following items: a. Net income, $417,000 b. Depreciation expense for the year, $34,330. C. Amortization on the bonds payable, $254. 2. There were no disposals of property, plant and equipment during the year. All acquisitions of PP&E were for cash except the land, which was acquired by issuing preferred stock. 3. The company issued bonds payable with a face value of $210,000, receiving cash of $208,476. 4. The company distributed 4,000 shares of common stock in a stock dividend when the market value was $4.50 per share. All other dividends were paid in cash. 5. The common stock, except for the stock dividend, was issued for cash. 6. The cash receipt from the notes payable in 2019 is considered a financing activity because it does not relate to operations. Activit Net Inc erating Print Done