Homework: Chap 14 CashFlow Score: 0 of 1 pt P14-41B (similar to) The 2018 income statement and comparative balance sheet of CanGrow, Inc. follow EB (Click the icon to view the income statement) EEE(Click the icon to view the comparative balance sheet) Complete the statement one section at a time, beginning with the cash flows from operating activities CanGrow, 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 Choose from any list or enter any number in the input flelds and then click Check Answer Tear Ended DeceTber S1, 010 435,000 Net Sales Revenue 203,200 Cost of Goods Sold 231,800 Gross Profit Operating Expenses: $ 76,400 Salaries Expense 14,100 Depreciation Expense-Plant Assets 10,800 Other Operating Expenses 101,300 Total Operating Expenses 130,500 Operating Income Other Income and (Expenses) 8,800 Interest Revenue (21,700) Interest Expense (12,900) Total Other Income and (Expenses) 117,600 Net Income Before Income Taxes 19,100 Income Tax Expense 98,500 Net Income Current Assets: 26,100 $ 14,900 Cash 24,900 26,700 Accounts Receivable 91,700 79,900 Merchandise Inventory Long-term Assets 9,000 35,400 Land 116.250 115,520 Plant Assets (17,820) (20,350) Accumulated Depreciation-Plant Assets 264,000 $ 238,200 Total Assets Liabilities Current Liabilities Accounts Payable $ 35,000 S 30,300 Accrued Liabilities 28,500 30,600 Long-term Liabilities 78,000 106,000 Notes Payable Total Liabilities 166,900 141 500 Stockholders' Equity - X ation Data Table LUIng-ten ASSers 9,000 35,400 Land 115,520 116,250 Plant Assets (17,820) (20,350) Accumulated Depreciation-Plant Assets $ 238,200 264,000 $ Total Assets Liabilities Current Liabilities 30,300 35,000 S Accounts Payable 30,600 28,500 Accrued Liabilities Long-term Liabilities 106,000 78,000 Notes Payable 166,900 141,500 Total Liabilities Stockholders' Equity 64.400 89,000 Common Stock, no par 33,500 6,900 Retained Earnings 122,500 71,300 Total Stockholders' Equity 264,000 S 238,200 Total Liabilities and Stockholders' Equity 2 of 2 (0 complete) (Click the icon to view the additional informat ollow: Read the requirements om operating activities X More Info Additionally, CanGrow purchased land of $26 400 by financing it 100% with long-term notes payable during 2018. During the year, there were no sales of land, no retirements of stock, and no treasury stock transactions A plant asset was disposed of for $0. The cost and accumulated depreciation of the disposed asset was $11,570. The plant acquisition was for cash. Done Print ick Check Answer. Clear All 2 of 2 (1 complete) - X ation.) Data Table CanGrow, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2017 2018 Assets Current Assets: 26,100 S $ 14,900 Cash 26,700 Accounts Receivable 24,900 Merchandise Inventory 79,900 91,700 Long-term Assets Land 35,400 9,000 Plant Assets 116,250 115,520 (20,350) (17,820) Accumulated Depreciation-Plant Assets 264,000 S 238,200 Total Assets Liabilities Current Liabilities Accounts Payable 35.000 S 30.300 Print Done