Contot God Mod Grow Prole . 200 , Operating Income ) in Raven Tower Rewd (p) Nat incon Rotor income com.tw Expen ( 20) (130) 1200 3 10 Ninam Granite Rock, Inc. Comparative Balance Sheet December 31, 2016 and 2015 Assets Current Assets: Cash Accounts Receivable Merchandise Inventory Long-term Assets: Plant Assets Accumulated Depreciation--Plant Assets Land 28,200 $ 26,500 79.900 15,900 25,400 92,000 122,160 (21,280) 34,400 267,900 $ 109,480 (19,780) 12,000 Total Assets $ 238,000 Liabilities 35,200 $ 28,700 Current Liabilities: Accounts Payable Accrued Liabilities Long-term Liabilities: Notes Payable Total Liabilities 30,600 30,500 75,000 103,000 138,900 164,100 Stockholders' Equity Common Stock, no par Retained Earnings 89,000 40,000 129.000 267,900 $ 65,000 5,900 70,900 235,000 Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ 442,000 204,200 237,800 Granito Rock, Inc. Income Statement Year Ended December 31, 2018 Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Salaries Expense 71,400 Depreciation Expense Plant Assets 14,100 Other Operating Expenses 10,200 Total Operating Expenses Operating Income Other Revenues and (Expenses): Interest Revenue 8,300 (21,800) Interest Expense Total Other Revenues and (Expenses) Net Income Before Income Taxes 96.700 142,100 (13,500) 128,600 19,900 Income Tax Expense 108,700 Net Income The 2016 Income statement and comparative balance sheet of Granite Rock, Inc. follow Click the icon to view the income statement) (Click the icon to view the comparative balance sheet.) Addionally, Granite Rock purchased land of $22,400 by financing it 100% with long-term notes payable during 2016. During the year, there were no sales of land, no retirements of stock, and no treasurys disposed of for $0. The cost and accumulated depreciation of the disposed asset was $12.620. The plant acquisition was for cash Requirements 1. Prepare the 2016 statement of cash flows by the direct method. 2. How will what you leamed in this problem help you evaluate an investment? Complete the statement one section at a time, beginning with the cash flows from operating activities Granite Rock, Inc. Statement of Cash Flows Year Ended December 31, 2016 Cash Flows from Operating Activities Recept Total Cash Recipes Payments Choose from any or enter any number in the input fields and then continue to the next question Son was for cash. Prepare the 2016 statement of cash flows by the direct method. How will what you leared in this problem help you evaluate an investment Total Cash Payments Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash Cash Balance, December 31, 2015 Cash Balance, December 31, 2016 Choose from any list or enter any number in the input fields and then continue to the next question. MacBook Air 1. Prepare the 2016 statement of cash flows by the direct method. 2. How will what you leamed in this problem help you evaluate an investment? Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash Cash Balance, December 31, 2015 Cash Balance, December 31, 2016 Non-cash Investing and Financing Activities: Total Non-cash Investing and Financing Activities Requirement 2. How will what you learned in this problem help you evaluate an investment? O A. Learn how to predict future cash flows, evaluate management decisions, and predict the ability of the company to pay their debts and dividends O B. Learn how operating activities, investing activities, and financing activities generate cash receipts and cash payments OC. Both A and B OD. None of the above Choose from any list or enter any number in the input fields and then continue to the next question. MacBook Air Contot God Mod Grow Prole . 200 , Operating Income ) in Raven Tower Rewd (p) Nat incon Rotor income com.tw Expen ( 20) (130) 1200 3 10 Ninam Granite Rock, Inc. Comparative Balance Sheet December 31, 2016 and 2015 Assets Current Assets: Cash Accounts Receivable Merchandise Inventory Long-term Assets: Plant Assets Accumulated Depreciation--Plant Assets Land 28,200 $ 26,500 79.900 15,900 25,400 92,000 122,160 (21,280) 34,400 267,900 $ 109,480 (19,780) 12,000 Total Assets $ 238,000 Liabilities 35,200 $ 28,700 Current Liabilities: Accounts Payable Accrued Liabilities Long-term Liabilities: Notes Payable Total Liabilities 30,600 30,500 75,000 103,000 138,900 164,100 Stockholders' Equity Common Stock, no par Retained Earnings 89,000 40,000 129.000 267,900 $ 65,000 5,900 70,900 235,000 Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ 442,000 204,200 237,800 Granito Rock, Inc. Income Statement Year Ended December 31, 2018 Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Salaries Expense 71,400 Depreciation Expense Plant Assets 14,100 Other Operating Expenses 10,200 Total Operating Expenses Operating Income Other Revenues and (Expenses): Interest Revenue 8,300 (21,800) Interest Expense Total Other Revenues and (Expenses) Net Income Before Income Taxes 96.700 142,100 (13,500) 128,600 19,900 Income Tax Expense 108,700 Net Income The 2016 Income statement and comparative balance sheet of Granite Rock, Inc. follow Click the icon to view the income statement) (Click the icon to view the comparative balance sheet.) Addionally, Granite Rock purchased land of $22,400 by financing it 100% with long-term notes payable during 2016. During the year, there were no sales of land, no retirements of stock, and no treasurys disposed of for $0. The cost and accumulated depreciation of the disposed asset was $12.620. The plant acquisition was for cash Requirements 1. Prepare the 2016 statement of cash flows by the direct method. 2. How will what you leamed in this problem help you evaluate an investment? Complete the statement one section at a time, beginning with the cash flows from operating activities Granite Rock, Inc. Statement of Cash Flows Year Ended December 31, 2016 Cash Flows from Operating Activities Recept Total Cash Recipes Payments Choose from any or enter any number in the input fields and then continue to the next question Son was for cash. Prepare the 2016 statement of cash flows by the direct method. How will what you leared in this problem help you evaluate an investment Total Cash Payments Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash Cash Balance, December 31, 2015 Cash Balance, December 31, 2016 Choose from any list or enter any number in the input fields and then continue to the next question. MacBook Air 1. Prepare the 2016 statement of cash flows by the direct method. 2. How will what you leamed in this problem help you evaluate an investment? Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash Cash Balance, December 31, 2015 Cash Balance, December 31, 2016 Non-cash Investing and Financing Activities: Total Non-cash Investing and Financing Activities Requirement 2. How will what you learned in this problem help you evaluate an investment? O A. Learn how to predict future cash flows, evaluate management decisions, and predict the ability of the company to pay their debts and dividends O B. Learn how operating activities, investing activities, and financing activities generate cash receipts and cash payments OC. Both A and B OD. None of the above Choose from any list or enter any number in the input fields and then continue to the next question. MacBook Air