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Hi, please help with the question below! Make sure you follow the following requirements: 1. Follow exactly the same format as the chart that is
Hi, please help with the question below! Make sure you follow the following requirements:
1. Follow exactly the same format as the chart that is provided below.
2. Answer the question only in the case you are confident of your answer and you will answer them all
3. Provide the process of how you get these answers. Thank you!!
i Data Table - X Morgensen Office Machines, Inc. December 31 2018 2017 Current assets: Cash and cash equivalents ......$ Accounts receivable ............ Inventory Current liabilities: Accounts payable ..................$ Income tax payable............ 80,100 $ 69,700 79,500 27,000 64,900 83,400 58,400 $ 14,400 55,800 16,800 Print Done A Data Table - X Transaction Data for 2018: Net income.... .........................$ 59,000 Purchase of treasury stock. .......... 15,100 Issuance of common stock for cash......... 36,100 Loss on sale of equipment. 10,000 Payment of cash dividends. 18,100 Depreciation expense. 21,900 Issuance of long-term note payable in exchange for cash ..... 38,000 Purchase of building for cash. ....... ............. 128,000 Retirement of bonds payable by issuing common stock ....... 60,000 Sale of equipment for cash. 50,000 Print Print Done Done Morgensen Office Machines, Inc.'s accountants assembled the following selected data for the year ended December 31, 2018: E: (Click the icon to view the current accounts.) ck the icon to view the transaction data.) Requirement 1. Prepare Morgensen Office Machines, Inc.'s statement of cash flows using the indirect method to report operating activities. List noncash investing and financing activities on an accompanying schedule. Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use parentheses or a minus sign for numbers to be subtracted.) Morgensen Office Machines, Inc. Statement of Cash Flows Year Ended December 31, 2018 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by (used for) operating activities: 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: Cash balance, December 31, 2017 Cash balance, December 31, 2018 Noncash investing and financing activities: Choose from any list or enter any number in the input fields and then continue to the nextStep by Step Solution
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