EF 16-21 (similar to) Assigned Media Question Help The income statement and additional data of Energy Plus, Inc. follows: (Click the icon to view the income statement.) A (Click the icon to view the additional data.) Prepare Energy Plus's statement of cash flows for the year ended September 30, 2024, using the Indirect method. Include a separate section for non-cash Investing and financing activities. Complete the statement one section at a time, beginning with the cash flows from operating activities. (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 a label or enter a zero.) Energy Plus, Inc Statement of Cash Flows Year Ended September 30, 2024 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 r i X na Data Table frd Energy Plus, Inc. Income Statement Year Ended September 30, 2024 Net Sales Revenue $ 232,000 97,000 Cost of Goods Sold Gross Profit 135,000 Operating Expenses: Salaries Expense $ 55,000 25,000 Depreciation ExpensePlant Assets 80,000 Total Operating Expenses Net Income Before Income Taxes 55,000 11,550 Income Tax Expense $ 43,450 Net Income Print Done More Info a. Acquisition of plant assets is $122,000. Of this amount, $107,000 is paid in cash and $15,000 by signing a note payable. b. Cash receipt from sale of land totals $26,000. There was no gain or loss. Cash receipts from issuance of common stock total $32,000. d. Payment of note payable is $14,000. Payment of dividends is $8,000. f. From the balance sheet: September 30 2024 2023 Cash $ 32,000 $ 8,550 Accounts Receivable 39,000 53,000 Merchandise Inventory 97,000 95,000 Land 58,000 84,000 Plant Assets 162,000 40,000 Accumulated Depreciation (47,000) 34,000 (22,000) 16,000 Accounts Payable Accrued Liabilities 18,000 22,000 Notes Payable (long-term) 14,000 15,000 41,000 Common Stock, no par 9,000 Retained Earnings 233,000 197,550 Print Done Done Assigned Media Question Help EF 16-21 (similar to) The income statement and additional data of Energy Plus, Inc. follows: (Click the icon to view the income statement.) A (Click the icon to view the additional data.) Prepare Energy Plus's statement of cash flows for the year ended September 30, 2024, using the indirect method. Include a separate section for non-cash investing and financing activities. Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use a minus signor 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 a label or enter a zero.) Energy Plus, Inc. Statement of Cash Flows Year Ended September 30, 2024 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Acquisition of Plant Assets by Issuing Note Payable Cash Payment for Acquisition of Plant Assets Cash Payment of Dividends Cash Payment of Notes Payable Cash Receipt from Issuance of Common Stock Cash Receipt from Sale of Land Decrease in Accounts Receivable Decrease in Accrued Liabilities Depreciation Expense-Plant Assets Increase in Accounts Payable Increase in Merchandise Inventory Ch en click Check
