Could someone answer this please? (fill out the cash flow statement) and provide the equation for each one too!?? Thank you!
ut A simplified balance sheet for Planet Inc. contain the following amounts at the end of 2017 and 2018 Planet Inc. Balance Sheet As at August 31 2018 2017 Assets Current Assets Cash $20,800 $11,400 Accounts Receivable $16,400 $9,700 Prepaid Expenses $3,200 $1,800 Merchandise Inventory $34,200 $19,900 Total Current Assets $74,600 $42,800 Noncurrent Assets Equipment $186,000 $157,000 Less: Accumulated Depreciation $-26,100 $-18,300 Total Noncurrent Assets $159,900 $138,700 Total Assets $234,500 $181,500 Liabilities Current Liabilities Long-Term Liabilities Total Liabilities $22,000 $22,000 $24,000 $41,000 $46,000 $63,000 Stockholders' Equity Paid-In Capital Preferred Stock $66.000 $56.000 Preferred Stock Common Stock Additional Paid-In Capital Total Paid-In Capital Retained Earnings Total Stockholders' Equity Total Liabilities and Equity $66,000 $56,000 $31,000 $9,000 $10,000 $107,000 $65,000 $81,500 $53,500 $188,500 $118,500 $234,500 $181,500 Assume current liabilities include only items from operations (e.g., accounts payable, taxes payable). Long-term liabilities include items from financing (e.g. bonds and other long-term liabilities). Note that the company did not sell any equipment and did not borrow any additional long-term liabilities throughout the year. Prepare the cash flow statement for 2018 using the indirect method. Assume no dividends were declared or paid in 2018 Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash. Planet Inc. Cash Flow Statement For the Year Ended August 31, 2018 Cash Flow from Operations Net Income Adjustments to reconcile Net Income to Cash Depreciation Expense Change in Operating Assets and Liabilities AR Change in Operating Assets and Liabilities Increase in Accounts Receivable Increase in Prepaid Expenses Increase in Merchandise Inventory Net Cash Provided (Used) by Operating Activities Cash Flow from Investing Activities Purchase of Equipment Net Cash Provided (Used) by Investing Activities Cash Flow from Financing Activities Issuance of Stock Repayment of Long-Term Liabilities Net Cash Provided (Used) by Financing Activities Net Increase (Decrease) in Cash Cash at the Beginning of the Year X Cash at the End of the Year 20800