Data Table - pws: More Info Mary McGuire Design Studio, Inc. Comparative Balance Sheets June 30, Increase 2018 2017 (Decrease) Current assets: Cash $ 28,900 $ 1,600 $ 27.300 Accounts receivable 59,000 52.000 7.000 Inventories 97,700 60,500 37.200 Prepaid expenses 3,700 2.100 1,600 Land 22 200 92,800 (70,000) Equipment, net 74.000 73,300 1.500 22.000 5,200 16.800 Long-term investment $ 308,300 $ 287,500 5 20.800 Transaction data for the year ended June 30, 2018, follows: a. Net income, $71,000 b. Depreciation expense on equipment, $14,000 c. Purchased a long-term investment with cash, $16,800 d. Sold land for $63.600, including a $7,000 loss .. Acquired equipment by issuing a long-term note payable, $15.500 t. Paid of a long-term note payable, 558,600 g. Received cash for the issuance of common stock, 500 h. Pald cash dividends, $7.200 1. Paid off a short-term note payable by issuing common stock. 56,100 Print Done $ Current liabilities: Notes payable, short-term Accounts payable Income tax payable Accrued liabilities 12,900 $ 19,000 $ 34,300 41.500 13.400 14,800 14.000 9.300 (6,100) (7.200) (1400) 5.600 Print Done Data Table Saland to vid pws ments More Info Prepar as. All Accounts receivable Inventories Prepaid expenses Land Equipment, net Long-term investment ng the 59,000 52.000 97,700 50,500 3,700 2,100 22.200 92.800 74,800 73.300 22000 5.200 $ 300,300 $ 287,500 $ 7,000 37,200 1.600 (70,600) 1,500 16.800 20,800 Transaction data for the year ended June 30, 2018, follows: a. Net income, $71,000 b. Depreciation expense on equipment 314,000 c. Purchased a long-term investment with cash $16.800 d. Sold land for $53,600, including a $7.000 tons e. Acquired equipment by issuing a long-term ole payable $15.500 1. Paid off a long term note payable, 55,600 Received cash for the issuance of common stock, 3500 h. Paid cash dividends, 57,200 Paid of a short-term note payable by saving common stock, 16.100 from op orts to red provided Current abilities: Notes payable, short-term Accounts payable Income tax payable Accrued liabilities Interest payable Salary payable Long-term not payable Common stock Retained earnings (6.100) (7.2001 (1400) 5,600 1,000 1.600 (43,100) 6,600 63 800 Print $ 12,000 $ 19.000 34,300 41.500 13.400 14,800 14,900 9.300 4.000 3,000 4,800 3,200 50,700 93,800 68,100 61.500 105,200 41.400 $ 300,300 $ 267,500 $ Done 20.800 Print Done om any list of The comparative balance sheets of Mary McGuire Design Studio Inc., at June 30, 2018 and 2017 and transaction data for fecal 2018. as follows Click the loon to view the comparative balance sheet) (Click the icon to view the transaction data) Requirement 1. Prepare the statement of cash flows of Mary McGuire Design Studio for the year ended June 30, 2018, using the Indirect method to report operating activities. Aino prepare the companying schedule of noncash investing and financing activities. All current account changes except for the short term Notes Payable changes out from operating actions Start by completing the cash flows from operating activities using the indirect method. Then complete the statement of cash fows (Ubegrees or a minus sign for numbers to be stricted and for a net decrease in cash) Mary McGuire Design Studio, Inc. Statement of Cash Flow Indirect Method Year Ended June 30, 2018 Cash flows from operating activities Auments to reconcile et income to net cash provided by operating activities Choose from any or enter any number in the input fields and then continue to the next question Sheets of Mary McGuire Design Studio, Inc., at June 30, 2018, and 2017, an (Click the icon to view the comparative balance sheet.) (Click the icon to view the transa ead the requirements. Cash flows from operating activities: Collections from customers Decrease in income tax payable Increase in prepaid expenses Increase in salary payable Depreciation expense For income tax For interest Decrease in accounts payable Increase in accounts receivable Increase in accrued liabilities Increase in interest payable Increase in inventories Interest received Issuance of common stock Loss on sale of land Net income Cash flows from investing activities: Choose from any list or enter any number in the input fields and then continue to the next question. The compartive balance sheets of Mary McGuire Design Studio, in June 30, 2018, and 2017, and transaction data for facel 2016, we as follows: Click the icon to view the comparative balance sheet) Click the icon to view the transaction data) O nas neste tramonte Requirement 2. Prepare a supplementary schedule showing cash flows from operations by the direct method. The accounting records provide the following collections from customers, $260.000, interest received, S1,900, payments to suppliers, 5158.600 payments to employees. 540.200 payments for home tax. 512.000 and payment of interest, 54.700. (Use parentheses or a minus sign for numbers to be subtracted and for a nel decrease in cash) Mary McGuire Design Studio, Ine. Partial Statement of Cash Flows (Oreot Method) Year Ended June 30, 2018 Cash flows from operating activities Recept Total cash receipts Payments Nel cash provided by used for operating activities Choose from any istorante any number in the input fields and then continue to the next