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Help please Accounting The chief accountant for Grandview Corporation provides you with the company's 2021 statement of cash flows and income statement. The accountant has
Help please Accounting The chief accountant for Grandview Corporation provides you with the company's 2021 statement of cash flows and income statement. The accountant has asked for your help with some missing figures in the company's comparative balance sheets. These financial statements are shown next($ in millions) (35) (21) (12) GRADVIEW CORPORATION Statement of Cash Flown For the Year Ended December 31, 2021 Cash Flows from Operating Activities: Collections from customers Panunt to suppliers Payment of general administrative expenses Payment of income taxes Net cash flows from operating activities Cash Flows from Investing Activities Sale of investments Cash Flows from Financing Activities: Tesuance of common stock Payment of dividende set cash flows from financing activities Net Increase in cash 16 68 13 (8) 539 GRANUVIEK CORPORATION Indice Statement For the Year Ended December 31, 2022 Sales revenue Coat of goods sold Gross profit Operating expenses! General and arrative expenses 2 Depreciation expense S92 35 57 GRANDVIEK COLORATION Income Statement For the Year Ended December 31, 2021 Sales revenue $92 Cost of goods sold 35 Gross profit 57 Operating expenses General and administrative expense 21 Depreciation expense 13 Total operating expenses 39 Operating income 23 Other income: Gain on sale of investments 12 Income before income taxes 35 Income tax expense B Net income $ 27 Required: 1. Calculate the missing amounts. 2 Prepare the operating activities section of Grandview's 2021 statement of cash flows using the indirect method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the missing amounts. Amounts to be deducted should be indicated with a minus sian. Enter vour answers in Required: 1. Calculate the missing amounts. 2. Prepare the operating activities section of Grandview's 2021 statement of cash flows using the indirect method Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the missing amounts. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (t.e., 10,000,000 should be entered as 10).) GRANDVIEW CORPORATION Balance Sheets At December 31 2021 2020 148 87 56 Assets Cash Accounts receivable Investments Inventory Property, plant & equipment Less. Accumulated depreciation Thtal aceste 63 153 153 (71) millions (1.6., 10,000,000 should be entered as 10).) GRANDVIEW CORPORATION Balance Sheets At December 31 2021 2020 148 87 56 63 153 (71) 153 Assots: Cash Accounts receivable Investments Inventory Property, plant & equipment Less: Accumulated depreciation Total assets Liabilities and Shareholders' Equity Accounts payable Accrued liabilities for selling & admin. expense) Income taxes payable Common stock Retained earnings Total liabilities and shareholders' equity 45 33 12 12 25 246 233 41 Required 2 > Required 1 Required 2 Prepare the operating activities section of Grandview's 2021 statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in million (... 10,000,000 should be entered as 10).) GRANUVIEW CORPORATION Statement of Cash Flows For the Year Ended December 31, 2021 ($ in millions) Cash flows from operating activities Adjustments for noncash effects Changes in operating assets and liabilities Net cash flows from operating activities
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