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!!
Goldman Pet Supply, Inc. Comparative Balance Sheet December 31, 2018 and 2017 Increase (Decrease) 2018 2017 Current Assets Cash and cash equivalents Accounts receivable 800 6,800 $ 25,300 91,700 6,000 $ 26,800 89,600 (1,500) 2,100 Inventory Fixed Assets Land 90,000 53,900 267,700 $ 70,000 49.100 Equipment, net 20,000 4,800 26,200 $ 241,500 $ $ 30,200 $ 30,700 35,200 $ 28,000 (5,000) 2,700 Total Assets Current Liabilities: Accounts payable Accrued liabilities Long-Term Liabilities: Notes payable Stockholders' Equity: Common stock Retained earnings 72,000 103,000 (31,000) 88,100 64,000 46,700 11,300 267,700 $ 241,500 $ 24,100 35,400 26,200 $ Total Liabilities and Stockholders' Equity Goldman Pet Supply, Inc. Income Statement Year Ended December 31, 2018 Revenues Sales revenue $ 218,000 Interest revenue 8,200 Total revenues $ 226,200 Expenses Cost of goods sold $ Salaries expense Depreciation expense Other operating expenses Interest expense 70,700 27,400 4,900 11,300 11,400 29,300 Income tax expense Total expenses 155,000 71.200 $ Net Income The 2018 comparative balance sheet and income statement of Goldman Pet Supply, Inc., are: P. (Click the icon to view the comparative balance sheet.) Goldman Pet Supply, Inc., had no noncash investing and financing transactions during 2018. During the year, Goldman Pet Supply, Inc., sold no land or equipment, issued no notes payable, retired no stock, and had no treasury stock transactions. Read the requirements (Click the icon to view the income statement.) Requirement 1. Prepare the 2018 statement of cash flows, formatting operating activities using the indirect method. 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.) Requirements - X Goldman Pet Supply, Inc. Statement of Cash Flows Year Ended December 31, 2018 Cash flows from operating activities: Net income 1. Prepare the 2018 statement of cash flows, formatting operating activities using the indirect method. 2. How will what you learned in this problem help you evaluate an investment in Goldman Pet Supply, Inc.? Adjustments to reconcile net income to net cash provided by operating activities: Print Done Goldman Pet Supply, 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 operating activities: Net cash provided by (used for) operating activities Cash flows from investing 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 Requirement 2. How will what you learned in this problem help you evaluate an investment in Goldman Pet Supply, Inc.? O A. Help predict Goldman's future cash flow O B. Help predict Goldman's ability to pay debt and dividends O c. Understand how Goldman's operating activities, investing activities, and financing activities generate cash receipts and cash payments OD. All of the above Choose from any list or enter any number in the input fields and then continue to the next
