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Cash Flows for Financing Activities: 140,200 Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Cash Payment for Acquisition of Plant
Cash Flows for Financing Activities:
140,200 Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Cash Payment for Acquisition of Plant Assets (12,200) (12,200) Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Cash Payment of Dividends Cash Payment of Notes Payable Cash Receipt from Issuance of Common Stock Net Cash Provided by (Used for) Financing Activities Grand Tree, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue $ Cost of Goods Sold Gross Profit 74,400 14,000 10,700 Operating Expenses: Salaries Expense Depreciation Expense Plant Assets Other Operating Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Interest Revenue 8,300 (21,000) Interest Expense Cost of Goods Sold Gross Profit 243,800 $ 74,400 14,000 10,700 Operating Expenses: Salaries Expense Depreciation Expense Plant Assets Other Operating Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Interest Revenue 99,100 144,700 8,300 (21,000) Interest Expense (12,700) Total Other Income and (Expenses) Net Income Before Income Taxes 132,000 19,900 Income Tax Expense $ 112,100 Net Income 2018 2017 Assets Current Assets: Cash $ 15.100 26,700 $ 26,300 79,500 25,500 91,200 Accounts Receivable Merchandise Inventory Long-term Assets Land 34,400 12,000 Plant Assets 118,110 (22,210) 117,480 (19,780) Accumulated Depreciation Plant Assets $ 262,800 $ 241,500 Total Assets Liabilities $ 30,200 35,300 $ 28,600 30,500 Current Liabilities: Accounts Payable Accrued Liabilities Long-term Liabilities: Notes Payable Total Liabilities 72,000 102,000 135.900 162,700 Stockholders' Equity Common Stock, no par 88,300 38,600 64,300 14,500 Retained Earnings Total Stockholders' Equity 126,900 78,800 $ 262,800 $ 241,500 Total Liabilities and Stockholders' Equity Step by Step Solution
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