Homework: Chapter 14 Comprehensive Problem Score: 0 of 25 pts 1 of 1 (0 complete) CP14-47 (similar to) Better Boat Company's comparative balance sheet and additional data are shown below. E (Click the icon to view the comparative balance sheet.) (Click the icon to view the additional data.) Requirement Prepare the statement of cash flows for the year ended December 31, 2019, using the indirect method. (Use a minus sign or parentheses for a not select a label or enter a zero.) Better Boat Company Statement of Cash Flows Year Ended December 31, 2019 Cash Flows From Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Requirement Prepare the statement of cash flows for the year ended December 31, 2019, using the indirect method. (Use not select a label or enter a zero.) Acquisition of land by issuing preferred stock Amortization Expense Cash Payment for Acquisition of Plant Assets Cash Payment of Dividends Cash Receipt from Issuance of Bonds Payable Cash Receipt from Issuance of Common Stock Cash Receipt from Issuance of Mortgage Payable Cash Receipt from Issuance of Notes Payable Decrease in Accounts Receivable Decrease in Office Supplies Decrease in Prepaid Rent Depreciation Expense Increase in Accounts Payable Increase in Interest Payable Increase in Merchandise Inventory Increase in Short-term Investments c Increase in Telephone Payable Increase in Unearned Revenue 4 Increase in Utilities Payable Increase in Wages Payable s and then click Check Answer. Data Table onal data are show i mber 31, 2019, usid Better Boat Company Comparative Balance Sheet December 31, 2019 and 2018 ash. If a boy 2019 2018 Assets Current Assets: Cash $ 1,137.390 $ 14,340 25,000 3,200 7,200 800 0 Short-term Investments, net Accounts Receivable, net Merchandise Inventory Office Supplies Prepaid Rent Property, Plant, and Equipment: 120 700 0 2,800 Land 70,000 1,270,000 895,000 Building 120,000 11,040 Canoes 11,040 Ids and then click Print Done i Data Table - onal data are show Building 895,000 120,000 Canoes 11,040 11,040 mber 31, 2019, usi Office Furniture and Equipment ash. If a Accumulated Depreciation-PP&E 130,000 0 (37,540) (1,070) 3,435,010 $ 225,010 Total Assets Liabilities 5,000 $ 3,080 850 300 Current Liabilities: Accounts Payable Utilities Payable Telephone Payable Wages Payable Notes Payable Interest Payable 660 310 3,500 1,400 0 28,000 540 40 600 300 Unearned Revenue Long-Term Liabilities: Notes Payable 5,760 5,760 elds and then click Print Done 0 Data Table onal data are show UTE Guru w mber 31, 2019, usit 5,760 5,760 ash. If a b 0 630,000 400,000 (720) 0 0 1,074,190 11,190 Long-Term Liabilities: Notes Payable Mortgage Payable Bonds Payable Discount on Bonds Payable Total Liabilities Stockholders' Equity Paid-In Capital: Preferred Stock Paid-In Capital in Excess of Par-Preferred Common Stock Paid-In Capital in Excess of Par-Common Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 0 600,000 600,000 661,000 180,000 319,820 211,000 0 2,820 2,360,820 213,820 3,435,010 $ 225,010 ields and then click Print Done to view the additional data.) method. (Use a 0 More Info X In th: 1. The income statement for 2019 included the following items: a. Net income, $462,000 b. Depreciation expense for the year, $36,470. c. Amortization on the bonds payable, $240. 2. There were no disposals of property, plant and equipment during the year. All acquisitions of PP&E were for cash except the land, which was acquired by issuing preferred stock. 3. The company issued bonds payable with a face value of $400,000, receiving cash of $399,040. 4. The company distributed 10,000 shares of common stock in a stock dividend when the market value was $10.00 per share. All other dividends were paid in cash. 5. The common stock, except for the stock dividend, was issued for cash. 6. The cash receipt from the notes payable in 2019 is considered a financing activity because it does not relate to operations. Print Done wer