during fiscal year 2020 Click the icon to view the income Statement.) (Click the icon to view the additional data) Required 1. Prepare McKnight Consulting Lid's cash fow statement for the year ended September 30, 2020, using the Indirect method 2. Evaluate McKnight Consulting Lid's cash flows for the year. In your evaluation, mention all three categories of cash flows, and give the reason for your evaluation Requirement 1. Prepare McKnight Consulting Lod's cash flow statement for the year ended September 30, 2020, using the Indirect method (Use parentheses or a minys sign for numbers to be subtracted) McKnight Consulting Cash Flow Statement For the Year Ended September 30, 2020 Cash flows from operating activities Not income Add subtracts that affect net income and cash flow differently Amortization expense Decrease in accounts receivable Increase in office supplies Enter any number in the edit fields and then continue to the next question Use the income statement of Mcknight Consulting Ltd, plus these additional data during fiscal year 2020: (Click the icon to view the Income Statement.) (Click the icon to view the additional data.) Required 1. Prepare McKnight Consulting Ltd.'s cash flow statement for the year ended September 30, 2020, using the indirect me 2. Evaluate McKnight Consulting Ltd.'s cash flows for the year. In your evaluation, mention all three categories of cash flo TO TFC Super 30, ZUZU Cash flows from operating activities Net Income Add subtract) items that affect net income and cash flow differently Amortization expense Decrease in accounts receivable Increase in office supplies Increase in accounts payable Decrease in accrued liabilities Net cash inflow from operating activities Cash flows from investing activities Enter any number in the edit fields and then continue to the next question 2 3 % & 5 6 7 8 Q W E R 9 of 9 (0 complete) This Question: 15 pts Use the income statement of McKnight Consulting Ltd. plus these additional data during fiscal year 2020 (Click the icon to view the Income Statement.) Click the icon to view the additional data.) Required 1. Prepare McKnight Consulting Ltd's cash flow statement for the year ended September 30, 2020, using the indirect method. 2. Evaluate McKnight Consulting Ltd's cash flows for the year in your evaluation, mention all three categories of cash flows, ar Cash flows from investing activities Acquisition of computer equipment Cash receipt from sale of land Net cash outflow from investing activities Cash flows from financing activities Cash receipt from issuance of common shares Payment of long-term note payable Dividends paid Net cash outflow from financing activities Net Increase in cash Cash balance at beginning of 2020 Enter any number in the edit felds and then continue to the next quesson 2 3 & 5 6 7 8 9. W E R. U comment on Click the icon to view the income Statement Click the knowlew the additional data) Required 1. Prepare MK Consulting ind's cash flow statement for the year ended September 30, 2020, using the Indirect method 2. Evate McKnight Consulting Lid's cash tows for the year in your evaluation, on all the categories of cash flow and give the reason for your evaluation Net cash flow from Branding Net Increase in cash Cash balance ating of 2020 Cash balance at end of 2020 Requirement. Evaluate Monight Corting Lid's cash flow for the year in your evaluation mention the categories of cash flows and give the reason for your evaluation The cash and provided funds to acquire the computer equipment which is found under The company is fairly strong and has little problem by way of notes and common shares which is found in the section of the cash flow statement Enter any number in the others and then continue to the next gusto 9 of 9 (0 complete) - x i Data Table Idition k the year your es McKnight Consulting Ltd. Income Statement For the Year Ended September 30, 2020 aluation $ 554,000 $302.000 Revenues Consulting revenue Expenses Salaries expense Amortization expense Rent expense Office supplies expense Insurance expense Interest expense 72.000 16.000 28,000 5.500 for the ye h for your evaluation 7.000 52.000 and it prov Income tax expense 482.500 The on shares $ Net income 71.500 e next ques Print Done hp 9 of 9 (0 complete) - X More Info se additi (Click the or the year ar In your ation Additional data a. Acquisition of computer equipment was $250,000. Of this amount, $210,000 was paid in cash and $40,000 by signing a long-term note payable. McKnight Consulting Ltd, sold no computer equipment during fiscal year 2020 b. Cash received from sale of land, 529,000 c. Cash receipts from issuance of common shares, 596,000 d. Payment of long-term note payable, $42,000 e. Payment of dividends, 5132,000 f. Change in cash balance. S? g. From the comparative balance sheet at September 30 Mcknight Consulting Ltd. Balance Sheet (partial) September 30, 2020 and 2019 2020 2019 h flows for the for your evaluation and it pra The company Current assets common share to the next gul Print Done hp 6 7 8 9 o