E14A-28 (similar to) The income statement and additional data of Cobbs Hill Corporation follow :: (Click the icon to view the Income Statement.) (Click the icon to view the additional data.) Prepare Cobbs Hill Corporation's statement of cash flows for the year ended June 30, 2018. Use the direct method. (Use a minus sign or parentheses foram leave the box empty, do not select a label or enter a zero.) Complete the statement one section at a time, beginning with the cash flows from operating activities Cobbs Hill Corporation Statement of Cash Flows Year Ended June 30, 2018 Cash Flows from Operating Activities: Receipts: Total Cash Receipts Dan Choose from any list or enter any number in the input fields and then click Check Answer lear 3 remaining ex NP w ni Homework: Chapter 14 - Graded Homework Score: 0 of 5 pts E14A-28 (similar to) The income statement and additional data of Cobbs Hill Corporation follow E (Click the icon to view the Income Statement) (Click the icon to view the additional Prepare Cobbs Hill Corporation's statement of cash flows for the year ended June 30, 2018. Use the direct leave the box empty, do not select a label or enter a zero.) Total Cash Receipts Payments Total Cash Payments Net Cash Provided by (Used for) Operating Activities Choose from any list or enter any number in the input Tields and then click Check Answer 3 parts remaining @ @ NX N PW 5 of 6 (4 complete) i Data Table that re! 232.000 107.000 125.000 Cobbs Hill Corporation Income Statement Year Ended June 30, 2018 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Salaries Expense Depreciation Expense-Plant Assets Advertising Expense Total Operating Expenses Operating Income Other Income and (Expenses) 41.000 23.000 10,000 74.000 51.000 Print Done Data Table 41,000 23,000 10,000 Operating Expenses Salaries Expense Depreciation Expense Plant Assets Advertising Expense Total Operating Expenses Operating Income Other Income and (Expenses): Dividend Revenue 74,000 51,000 10,500 (4,000) Interest Expense 6,500 Total Other Income and (Expenses) Net Income Before Income Taxes Income Tax Expense 57,500 11,000 46,500 Net Income Print Done N] wai i More Info a. b. c a oe Collections from customers are $14,500 more than sales. Dividend revenue, interest expense, and income tax expense equal their cash amounts Payments to suppliers are the sum of cost of goods sold plus advertising expense. Payments to employees are $1,500 more than salaries expense Cash payment for the acquisition of plant assets is $107.000. Cash receipts from sale of land total $23,000 Cash receipts from issuance of common stock total $34.000. Payment of long-term notes payable is $16.000. Payment of dividends is $8.500. Cash balance at June 30, 2017 was $27.000: at June 30. 2018. It was $35,000 Pnnt Done Clear All E p oi