E14A-28 (similar to) A Question Help The income statement and additional data of Starry Night Corporation follow: : (Click the icon to view the Income Statement.) i (Click the icon to view the additional data.) a. b. e. Prepare Starry Night Corporation's statement of cash flows for the year ended June 30, 2018. Use the direct method. (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 label or enter a zero.) More Info Data Table Cash Flows from Operating Activities: Receipts: Net Sales Revenue $ Collections from customers are $15,500 more than sales. 231,000 Dividend revenue, interest expense, and income tax expense equal their Cost of Goods Sold 105,000 cash amounts Gross Profit 126,000 Payments to suppliers are the sum of cost of goods sold plus advertising Total Cash Receipts expense. Operating Expenses: Payments: d. Payments to employees are $2,500 more than salaries expense. Salaries Expense $ 42,000 Cash payment for the acquisition of plant assets is $101,000. Depreciation ExpensePlant Assets 26,000 f. Cash receipts from sale of land total $23,000. 13,500 g. Cash receipts from issuance of common stock total $39,000. Advertising Expense h. Payment of long-term notes payable is $12,000. 81,500 Total Operating Expenses i. Payment of dividends is $11,500. Operating Income 44,500 j. Cash balance at June 30, 2017, was $20,000; at June 30, 2018, it was $38,500. Other Income and (Expenses) Total Cash Payments Dividend Revenue 9.500 Net Cash Provided by (Used for) Operating Activities Print (2.000) Done Interest Expense Total Other Income and (Expenses) 7,500 Choose from any list or enter any number in the input fields and then click Check Answer. Net Income Before Income Taxes 52,000 10,000 3 parts Clear All Income Tax Expense remaining $ 42,000 Net Income