Data Table - X Press Exercise Equipment, Inc. 3 Income Statement Year Ended December 31, 2018 Net Sales Revenue $ 717,000 345,000 Cost of Goods Sold Gross Profit 372,000 Operating Expenses: Depreciation Expense $ 48,000 190,000 Other Operating Expenses Total Operating Expenses 238,000 Net Income $ 134,000 Print Done ties input fields and then click Check Answer. 0 Data Table Press Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Current Assets: Cash $ 18,000 $ 50,000 89,000 14,000 47,000 94,000 Accounts Receivable Merchandise Inventory Long-term Assets: Plant Asset Accumulated Depreciation-Plant Assets 261,600 (37,600) 98,000 221,200 (34,200) 75,000 Investments Total Assets $ 479,000 $ 417,000 Liabilities ng A Current Liabilities: Accounts Payable Salaries Pavable 76,000 $ 2.000 74,000 7.500 er in Print Done Data Table Long-term Assets: Plant Assets 261,600 Accumulated Depreciation Plant Assets (37,600) 98,000 221,200 (34,200) 75,000 Investments Total Assets $ 479,000 $ 417,000 Liabilities Current Liabilities: $ 76,000 $ Accounts Payable Salaries Payable Long-term Liabilities: Notes Payable 74,000 7,500 2,000 57,000 67,000 Total Liabilities 135,000 148,500 Stockholders' Equity Common Stock, no par 48,000 296,000 36,000 232,500 1 Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 344,000 268,500 AL 479,000 $ 417,000 in Print Done * More Info . Press calculated the following amounts for 2018: Acquisition value of plant assets, $85,000. Payment of dividends, $70,500. Payment of long-term notes payable, $10,000. Cash receipt from issuance of common stock, $12,000. Press Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $44,600. No cash was received upon disposal. Print Done Press Exercise Equipment, Inc. reported the following financial statements for 2018: Prepare the company's statement of cash flows-indirect method for the year ended (Click the icon to view the income statement) December 31, 2018. Assume investments are purchased with cash. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement (Click the icon to view the comparative balance shoot.) leave the box empty, do not select a label or enter a zero) Click the loon to view additional information.) Complete the statement one section at a time, beginning with the cash flows from operating activities Press Exercise Equipment, Inc. Statement of Cash Flows Year Ended December 31, 2018 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 Choose from any list or enter any number in the input fields and then click Check Answer. ? parts remaining Clear All Check
