For a statement of cash flows prepared from scratch, you have to follow proper format and come up with the correct line descriptions and calculate the numerical partion. Instructions 1 Save this document on your hard drive: Ch 12 Stmtof Cash Flaws Assignment y1 (blankl.docx 2. Open the document which contains the assignment and prepare the statement of cash flows in accordance with the directions provided DIRECTLY ON THE TABLE OF THE DOCUMENT Do nat change the formatting of the table; the lines and cells are farmatted to accommodate the spacing requirements 3 Submit the finished assignment document using the upload function. Nctes Comparative balance sheets and an income statement for Joe Smith Company are presented below Dec. 31, 2018 Dec. 31, 2017 Assets Cash 90,600 145,900 Accounts receivable (net) 51,300 58,000 147,200 12,000 493,000 Inventory Investments, long-term Equipment Accumulated depreciation 135,000 60,000 375,000 (128,000) 645,900 (127,700) 666,400 Total assets Liabilities and stockholders' equity Liabilities 61,500 Accounts payable 42,600 Income tax payable Bonds payable, due 2024 33,600 0 92,400 100,000 235,000 95,100 Stockholders' equity: Common stock, $10 par Paid-in capital in excess of par value Retained earnings 250,000 75,000 246,300 571,300 200,000 50,000 160,900 Total stockholders' equity 410,900 666,400 Total labilities and stockholders' equity 645,900 2018 Sales 623,000 Iotal habilities and stockholders equity ooo,4UU 04,yUU 2018 623,000 348,500 274,500 Sales Cost of merchandise sold Gross profit Operating expenses Depreciation expense Other operating expenses Income from operations Other revenues and expenses: 24,700 75,300 100,000 174,500 5,000 (2,000) Gain on sale of investments Loss on sale of equipment Income before income tax Income tax expense 3,000 177,500 64,100 113,400 Net income Additional data: (a) Equipment with an original cost of $39,000 and a book value of $14,000 was sold. (b) Equipment was purchased for $157,000 (e) Bonds payable for $100,000 were retired by payment at their face amount (d) 5,000 shares of common stock were issued at $15 for cash (e) Cash dividends declared were paid $28,000 Instructions: Using the indirect method, prepare in proper financial statement format statement of cash flows for the year ended December 31, 2018 in the table below. Please skip the supplemental cash flow information section. The table is in red font. a 2,vv saes o co soCK weie 1ssueu a 1 10I cas Cash dividends declared were paid $28,000 (e) Instructions: Using the indirect method, prepare in proper financial statement format statement of cash flows for the year ended December 31, 2018 in the table below. Please skip the supplemental cash flow infomation section. The table is in red font. a
