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help asap please To prepare the statement of cash flows, accountants for Donald Electric Company have summarized 2018 activity in two accounts: Click the icon

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To prepare the statement of cash flows, accountants for Donald Electric Company have summarized 2018 activity in two accounts: Click the icon to view the transaction data) Donald Electric's 2018 income statement and balance sheet data follow. Click the icon to view the income statement.) Click the icon to view the balance sheet data) Read the requirements Requirement 1. Prepare the statement of cash flows of Donald Electric Company for the year ended December 31, 2018, using the direct method to report operating activities. Also prepare the accompanying schedule of noncash investing and financing activities Start by completing the cash flows from operating activities using the direct method. Then complete the statement of cash flows and the accompanying schedule of noncash investing and financing activities. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) Donald Electric Company Statement of Cash Flows (Direct Method) Year Ended December 31, 2018 Cash flows from operating activities: Receipts Total cash receipts Payments: 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 Noncash investing and financing activities: Total noncash investing and financing activities Requirement 2. Use Donald Electric's 2018 income statement and information from its selected balance sheet data to prepare a supplementary schedule of cash flows from operating activities using the indirect method. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) Donald Electric Company Partial Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by operating activities: Net cash provided by used for) operating activities O Data table Beginning bal Sale of long-term investment Collections from customers Issuance of common stock Receipts of dividends Cash 90,100 Payments on accounts payable 21,700 Payments of dividends 661,300 Payments of salaries and wages 47,600 Payments of interest 17,300 Purchase of equipment Payments of other operating expenses Payment of long-term note payable Purchase of treasury stock Payment of income tax 87,800 402,000 27,600 140,000 28,100 31,800 34,200 41,300 25,700 19,500 Ending Bal Common Stock Beginning bal Issuance for cash Issuance to acquire land Issuance to retire note payable Ending bal 84,100 47,600 80,000 17,000 228.700 Data table Donald Electric Company Selected Balance Sheet Data December 31, 2018 Increase (Decrease) Current assets: Cash and cash equivalents $ (2,300) Accounts receivable 27,200 Inventories (11,500) Prepaid expenses (1,000) Land 80,000 Equipment, net (10,100) Long-term investments (22,800) Current liabilities: Accounts payable 11,900 Interest payable 1,000 Salary payable (7.300) Other accrued liabilities (10,200) Income tax payable (2.800) Long-term note payable (58,300) Common stock 144,600 Retained earnings 6,300 Treasury stock 25,700 Data table Donald Electric Company Income Statement Year Ended December 31, 2018 Revenues: Sales revenue $ 688,500 Dividend revenue 17,300 Total revenue 705,800 Expenses and losses: Cost of goods sold $ 425,400 Salary and wage expense 132,700 Depreciation expense 41,900 Other operating expense 25,000 Interest expense 29,100 Income tax expense 16,700 1,100 Loss on sale of investments 671,900 Total expenses and losses $ 33,900 Net income

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