F70 fx A B E F G H 83 Homework 17-2 84 85 Income Statement: Cool Whip Company-December 31, 2023 86 Sales $700 87 Cost of Goods Sold ($340) 88 Depreciation Exp. ($50) 89 Salary Expense {$50) 90 Other Expenses ($150) 91 Net Income $110 92 93 Comparative Balance Sheet: 94 2023 2022 2023 95 Cash $39 $17 Accounts Pay. $53 96 Accounts Rec. $55 $47 Salaries Payable $25 97 Inventory $80 $84 Accrued Lab. $8 98 Prepaid Expense $4 $2 Notes Payable $63 99 Long Term Invest $85 $90 Common Stock $40 100 plant assets, net $215 $185 Retained Earnings $289 101 Total Assets $478 $425 Total Liab. & SE $478 102 103 Additional Information: 104 A Cool Whip sold one investment for no gain. 105 B Cool Whip purchased one plant asset: 106 Cool Whip paid on their note payable 107 D Cool Whip sold some common stock. 108 E Cool Whip paid dividends. 109 Prepare a Statement of Cash Flows for Cool Whip 110 111 Cool Whip 112 Statement of Cash Flows 113 114 Cash Flows from Operating Activities 115 Net Income 126 Adjustments to Recondile 117 2022 ST $22 $11 $67 $38 $246 $425 118 Sheet + F F70 fx D E UZ R03 Additional Information: 104 A Cool Whip sold one investment for no gain 105 B Cool Whip purchased one plant asset. 106 Cool Whip paid on their note payable 207 D Cool Whip sold some common stock 108 E Cool Whip paid dividends. 109 Prepare a Statement of Cash Flows for Cool Whip, 110 111 Cool Whip 112 Statement of Cash Flows 113 114 Cash Flows from Operating Activities 215 Net Income 116 Adjustments to Reconcile: 117 118 119 120 121 122 123 124 Net cash from Operating Activities 125 126 Cash Flows from investing Activities 127 Sale of Long Term investments 228 Acquisition of plant assets 129 Net cash flows from investing Activities 130 131 Cash Flows from Financing Activities 132 Payment of long term. Note payable 133 Issuance of common stock 134 Payment of Dividends 135 Net cash flows from Financing Annie 236 137 Totalsta band) 13. Cha Sheet a b a. b. 122 123 124 Net cash from Operating Activities 125 126 Cash Flows from Investing Activities: 127 Sale of Long Term Investments 128 Acquisition of plant assets 129 Net cash flows from Investing Activities 130 131 Cash Flows from Financing Activities: 132 Payment of long term Note payable 133 Issuance of common stock 134 Payment of Dividends 135 Net cash flows from Financing Activities 136 137 Totals (a. b. and c) 138 Beginning Cash Balance 139 Ending Cash Balance + C. $17 140
