Home Insert Draw Page Layout Formulas Data Review View Tell me X Arial 10 ' ' ab Wrap Text Paste BI U V A == Merge & Center 8 K30 A fx B E F H K L 9 10 11 12 December 31, 2018 2017 Assets Cash 13 operating Accounts receivable $ 68,900 79,200 14 15 16 investment Land Inventories Investments Equipment 155,800 $ 53,700 85,400 132,700 45,000 $ 15,200 increase $ (6,200) $ 23,100 $ (45,000) 105,500 $ 105,500 210,800 185,600 $ 25,200 Accumulated Depreciation (52,800) (45,100) $567,400 $457,300 $ (7,700) $110,100 17 section 18 19 20 21 22 Liabilities & Stockholder's Equity 23 Accounts payable $ 99,300 24 Accrued expenses payable 32,200 $ 100,200 24,300 25 Common Stock, $1 par 55,000 50,000 26 Paid in capital in excess of par 200,000 100,000 27 Retained earnings 180,900 182,800 28 $567,400 $457,300 29 30 31 Additional information: 32 1. Net income for the year was $46,100. 33 34 3. New equipment costing $35,200 was purchased during the year. 35 36 was $10,000 and the accumulated depreciation on the equipment sold was $6,000. 37 38 39 40 41 42 43 Bonus 44 45 46 47 48 2. The investments were sold for $41,000 cash, resulting in a $4,000 loss. 4. Equipment was sold at a gain of $5,200. The original cost of the equipment 5. The company issued 5,000 shares of common stock for $21 per share during the year. REQUIRED: A. In EXCEL, prepare the operating activities section of the statement of cash flows (indirect method). Print your response and bring to class next week. B. What was the selling price of the equipment during the year? C. How much was paid in cash dividends for the year? D. What section of the cash flow statement would the issuance of the common stock be reported in? How much would be reported? Inflow or outflow? E. Show how the equipment account changed during the year (explain the transactions that changed the balance of the account). F. How much depreciation expense was recorded during 2018? 49 50