Following are comparative balance sheets for Millco Inc. at January 31 and February 28, 2020: MILLCO INC. Balance Sheets February 28 and January 31, 2020 February 28 January 31 $ 42,00 64, 81,808 $187,800 181, ene $ 37,000 53.299 94, eas $184,99 134 166,809 (24,800) $329,800 152.899 (21,800) $315,899 Assets Cash Accounts receivable Merchandise inventory Total current assets Plant and equipment: Production equipment Less: Accumulated depreciation Total assets Liabilities Accounts payable Short-term debt Other accrued liabilities Total current liabilities Long-term debt Total liabilities Stockholders' Equity Common stock, no par value, 40, eee shares authorized, 30,888 and 28,800 shares issued, respectively Retained earnings: Beginning balance Net income for month Dividends Ending balance Total stockholders' equity Total liabilities and stockholders' equity $ 37. eee 44, eee 21, eee $102,800 33,000 $135,899 $ 41. eee 44, eee 24, eee $199. eee 46,000 $155,800 $184,800 $ 96,800 $ 64, cee 36, eee (10, eee) $ 90,898 $194. eee $329, eee $ 43,899 29. eae (8, eee) $ 64.299 $ 160,000 $315, eee Required: a. Calculate the change that occurred in cash during the month. You may assume that the change in each balance sheet amount is due to a single event (for example, the change in the amount of production equipment is not the result of both a purchase and sale of equipment). Because the retained earnings section of the balance sheet is, in and of itself, an analysis of the change in the retained earnings account for the month, the row for net income and dividends should be entered as the February amount and not the change. Use the space to the right of the January 31 data to enter the difference between the February 28 and January 31 amounts of each balance sheet item. b. Prepare a statement of cash flows that explains above changes? Complete this question by entering your answers in the tabs below. Required A Required B Prepare a statement of cash flows that explains above changes? (Amounts to be deducted should be indicated by a minus sign.) MILLCO INC. Statement of Cash Flows For the Month Ended February 28, 2020 Cash flows from operating activities: Add (deduct) items not affecting cash: Cash flows from investing activities: Cash flows from financing activities: MILLCO INC. Balance Sheets January 31 and February 28, 2020 February 28 January 31 Change Assets $ S 42.000 84.000 81,000 187,000 37.000 53.000 94.000 184.000 $ $ Cash Accounts receivable Merchandise inventory Total current assets Plant and equipment: Production equipment Less: Accumulated depreciation Total assets 168.000 (24.000) 320,000 152.000 (21,000) 315.000 $ $ $ S 37,000 44.000 21.000 102.000 33,000 135,000 41,000 44.000 24.000 109,000 48.000 155,000 $ $ $ Liabilities Accounts payable Short-term debt Other accrued liabilities Total current liabilities Long-term debt Total liabilities Stockholders' Equity Common stock Retained earnings: Beginning balance Net income for month Dividends Ending balance Total stockholders' equity Total liabilities and stockholders' equity $ 104.000 $ 90,000 $ $ 64,000 38.000 (10,000) 90,000 104.000 43.000 29.000 (8.000) 64.000 100.000 315.000 $ $ $ $ $ Required A Required B >
