E14-21 Preparing the statement of cash flows-indirect method The income statement of Boost Plus, Inc. follows: BOOST PLUS, INC. Income Statement Year Ended September 30, 2018 Net Sales Revenue Cost of Goods Sold Gross Profit $ 231,000 94,000 137,000 $ 54,000 27,000 Operating Expenses: Salaries Expense Depreciation Expense-Plant Assets Total Operating Expenses Net Income Before Income Taxes Income Tax Expense Net Income 81,000 56,000 3,000 $ 53,000 Additional data follow: a. Acquisition of plant assets is $124,000. Of this amount, $108,000 is paid in cash and $16,000 by signing a note payable. b. Cash receipt from sale of land totals $20,000. There was no gain or loss. c. Cash receipts from issuance of common stock total $36,000. E14-21 Preparing the statement of cash flows-indirect method The income statement of Boost Plus, Inc. follows: BOOST PLUS, INC. Income Statement Year Ended September 30, 2018 Net Sales Revenue Cost of Goods Sold Gross Profit $ 231,000 94,000 137,000 $ 54,000 27,000 Operating Expenses: Salaries Expense Depreciation Expense-Plant Assets Total Operating Expenses Net Income Before Income Taxes Income Tax Expense Net Income 81,000 56,000 3,000 $ 53,000 Additional data follow: a. Acquisition of plant assets is $124,000. Of this amount, $108,000 is paid in cash and $16,000 by signing a note payable. b. Cash receipt from sale of land totals $20,000. There was no gain or loss. c. Cash receipts from issuance of common stock total $36,000