Granite Rock, Inc. Comparative Balance Shoot December 31, 2016 and 2016 Assets 16,900 Current Assets: Cash Accounts Receivable Merchandise Inventory Long-term Assets: Plant Assets Accumulated Depreciation--Plant Assets 28,200 $ 28,500 79,900 25,400 92,000 122,160 (21,280) 34,400 267,900 $ 109,480 (19,780) 12,000 238,000 Land Total Assets Liabilities Current Liabilities: Accounts Payable Accrued Liabilities Long-term Liabilities: 35,200 $ 28,700 30,600 30,500 75,000 Notes Payable Total Liabilities 103,000 164,100 138,900 Stockholders' Equity Common Stock, no par Retained Earnings 89,000 40,000 129.000 267,900 S 65.000 5.900 70.900 235,000 Total Stockholders' Equity Total Liabilities and Stockholders' Equity Granite Rock, Inc. Income Statement Year Ended December 31, 2016 Sales Revenue $ 442,000 204,200 Cost of Goods Sold Gross Profit 237,800 Operating Expenses: Salaries Expense 71,400 Depreciation Expense-Plant Assets 14,100 Other Operating Expenses 10,200 95,700 Total Operating Expenses Operating Income 142,100 Other Revenues and (Expenses) Interest Revenue 8,300 (21,800) Interest Expense Total Other Revenues and (Expenses) (13,500) Net Income Before Income Taxes 128,600 Income Tax Expense 19,900 Net Income 108,700 o rante Rock, Inc. follow Click the loon to view the income statement) Click the icon to view the companie baloncest) donally, Granite Rock purchased land of $22.400 by financing 100% with long to be in 2018. During the year ed of for 10. The cost and accumulated depreciation of the disposed $12.620. The orch irements Prepare the 2016 Matement of cash flows by the direct method How will what you leared in this probleme you evaluate an investment s old, normers of lock, and more on quirement 1. Prepare the 2016 Statement of Cash Flows by the direct methods parents or umplete the statement one section at a me, beginning with the cash flows from operating wives for her to be a bit the othe Granite Rock, Inc Statement of Cash Flows Year Ended December 31, 2016 Cash Flows from Operating Activities Receptes Total Cash Receipts Payments Choose from any list or enter any number in the input ids and then continue to the question 2. How will what you leamed in this problem help you evaluate an Investment? Total Cash Payments Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash Choose from any list or enter any number in the input fields and then continue to the next question 10. Day we year, there were no UI UU UISLUSEd asset was $12,620. The plant acquisition was for cash Requirements 1. Prepare the 2016 statement of cash flows by the direct method. 2. How will what you leamed in this problem help you evaluate an investment? Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash Cash Balance, December 31, 2015 Cash Balance, December 31, 2016 Non-cash Investing and Financing Activities: Total Non-cash Investing and Financing Activities Requirement 2. How will what you learned in this problem help you evaluate an investment? O A. Learn how to predict future cash flows, evaluate management decisions, and predict the ability of the company to pay their debts and dividends O B. Learn how operating activities, investing activities, and financing activities generate cash receipts and cash payments OC. Both A and B OD. None of the above Choose from any list or enter any number in the input fields and then continue to the next