CP14-47

sar Asaaran harantai balanae that are lateral cats are staan talin Requirement Prother of the for the pointed December 31, 2018 ting the indirections Habitte betyder Duo Auto Company Sum of Cow weder Cash From Orang con Mt ly w1 1 0 g tin CA Outdoor Adventure 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 ad Requirement Prepare the statement of cash flows for the year ended December 31, 2019, using the indirect method. (Use Outdoor Adventure 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: Net Cash Provided by (Used for) Operating Activities w the additional data.) d. (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 empty, do not select a label or enter a zero.) Outdoor Adventure Company Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 18,550 0 6,500 $ 1,929,510 $ 25,000 2,200 1,200 130 0 0 Assets Current Assets: Cash Short-term Investments, net Accounts Receivable, net Merchandise Inventory Office Supplies Prepaid Rent Property, Plant, and Equipment: Land Building Canoes Office Furniture and Equipment Accumulated DepreciationPP&E 250 2,200 400,000 100,000 596,000 76,000 15,360 15,360 60,000 0 (31,000) (1,460) $ 2,998,400 $ 217,400 Total Assets Liabilities $ 4,920 Current Liabilities: Accounts Payable Utilities Payable Telephone Payable Wages Payable Notes Payable Interest Payable 7,150 $ 440 660 290 260 3,700 900 28.000 0 270 70 Interest Payable 270 70 450 350 Unearned Revenue Long-Term Liabilities: Notes Payable 8,640 8,640 Mortgage Payable 380,000 0 Bonds Payable 0 1,500,000 (880) 0 Discount on Bonds Payable Total Liabilities Stockholders' Equity 1,928,430 15,430 Paid-In Capital: 100,000 0 200,000 0 Preferred Stock Paid-In Capital in Excess of Par-Preferred Common Stock Paid-In Capital in Excess of Par-Common 300,000 200,000 0 140,000 329,970 1,970 Retained Earnings Total Stockholders' Equity 1,069,970 201,970 $ 2,998,400 $ 217,400 Total Liabilities and Stockholders' Equity * More Info 1. The income statement for 2019 included the following items: a. Net income, $408,000 b. Depreciation expense for the year, $29,540. c. Amortization on the bonds payable, $220. 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 $1,500,000, receiving cash of $1,498,900. 4. The company distributed 5,000 shares of common stock in a stock dividend when the market value was $15.00 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