Here is what I have so far. For some reason, the Net Cash from operating activities is not adding up. (Therefore my net change in cash is off as well) Please help
Directions Complete a cash flow using the direct method Proceeds from the sale of fixed assets is $13, 550 Note The cash ending on your cash flow statement must equal the ending cash balance for 2018 The net cash flow from operating activities must be the same on the face of the cash flow statement and the reconciliation You must reconcile the purchase of fixed assetsBalance Sheet December 31 2016 and 2017 2017 209 1 5 ASSETS Current Assets Cash 11.037 11036 Accounts receivable 20712 13 821 Allowance for doubtful accounts ( 1 136 ) (808 ) Investment in Bonds 9 981 32558 Inventories 25 896 22680 Prepaid expenses 8064 Interest receivable 20.009 4.430 Total current assets 04563 92126 Property , pland and equipment 101 675 121906 Less accumulated depreciation 8972 11960 Property , plant and equipment , net 92.703 109 946 TOTAL ASSETS 197 260 202072 LIABILITIES Current Liabilities Accounts payable 30 228 1074 Accrued Liabilities 33 . 183 6069 Accrued interest 2934 35162 Votes payable $142 5 542 Income taxes payable Current portion of long term debt 10530 13 472 Total current Liabilities 86040 64.047 Long term liabilities Long term debt net of current portion 46.697 71554 THETATTTARTT ITIES 132.737 35.60 STOCKHOLDERS EQUITY Common stock Additional paid in capital 2158 2553 Retained earnings 61875 63 331 TOTAL STOCKHOLDERSEQUITY 64 529 66 47 TOTAL LIABILITIES AND STOCK HOLDER 197 256 202072STOCKHOLDERS EQUITY Common stock 496 587 Additional paid in capital 2,158 2,553 Retained earnings 51,875 53.331 TOTAL STOCKHOLDERSEQUITY 64,529 66,471 TOTAL LIABILITIES AND STOCKHOLDE 197.266 202,072 Test 4 Income Statement For the Year Ended December 31 2018 2,017 Sales 88.742 Cost of goods sold 52,590 Gross margin 36,152 EXPENSES Bad debts 973 Depreciation 4.823 Other 16,779 TOTAL EXPENSES 22,575 OPERATING INCOME 13.577 INTEREST INCOME 3,492 INTEREST EXPENSE (732) CAPITAL GAIN (LOSS) ON DISPOSAL OF PP&E (98) NET INCOME BEFORE TAXES 16.239 Income tax expense 3.488 NET INCOME 12,75191 Test 4 92 Statement of Cash Flows 93 For the Year Ended December 31 2018 95 Cash flow from operating activities Cash received from customers 94 332 cash paid to suppliers and employees ( 1 12 , 760 Interest Received 1907 Interest Paid 32 496 Income taxes Paid ( 1 783 ) 101 Net cash flow from operating activities 03 Cash flow from financing activities 104 hange in Notes Payable ( 3 60 ) accrued current portion of long term debt 2012 THE accrued long term debt 24.857 dividend ( 1 1205 ) common stock additional paid in capital on 1 10 Net cash flow from financing activites 13 390 112 Cash flow from investing activities Proceeds from the sale of property plant and 114 equipmen 13530 Purchase of property plant and equipment 18 ) Purchase of investment in bond (2 57 7 ) 117 Net cash flow from investing activities ( $1, 545 19 Change in cash 20 Cash beginning 11037 121 cash ending 1 1232Reconciliation of net income to net cash from operating activities Net income 2.751 Adjustments for non - cash item items Depreciation expense 4 823 bad debt expense 9 73 Gain from sale of assets ( 98 ) Changes in operating assets and liabilities Decrease in the AIR $ 590 Decrease in the inventory 3216 Decrease in prepaid expense 9:655 Decrease in interest receivable 19579 Decrease in AUP 29 154 ) Decrease in accrued liabilities (27 1 14 ) Increase in income taxes payable 105 Increase in accrued interest 3228 Net Cash flow from operating activities 31 154 Error ( 19673 74 Proceeds from the sale of fixed assets 13530 75 Gain on the sale of fixed assets ( 98) It Net Book value of assets sold 13453 7 7 78 Accumulated depreciation beginning 8 972 79 Depreciation Expense 4 823 80 Accumulated depreciation ending ( 1 960) SI Depreciation on assets sold 1835 82 Gross book value of assets sold 15287 83 84 Fixed assets ending 121906 85 Fixed assets beginning ( 101 675 ) SO 20. 231 87 Purchase of fixed assets 35 518 88 89
