i Data Table CanGrow, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Current Assets Cash 26,400 S 15,500 Accounts Receivable 26,600 25,100 Merchandise Inventory 79,500 91,900 Long-term Assets: Land 34,600 11,000 115,300 Plant Assets 105,520 (18,400) (16,820) Accumulated Depreciation-Plant Assets $ 264,000 $ 232,200 Total Assets Liabilities Current Liabilities: Accounts Payable 35,000 $ 29,900 Accrued Liabilities 28,300 30,200 Long-term Liabilities: 101,000 73,000 Notes Payable Print Done Cash 26,400 $ 15,500 Accounts Receivable 26,600 25,100 Merchandise Inventory 79,500 91,900 Long-term Assets: Land 34,600 11,000 Plant Assets 115,300 105,520 (18,400) (16,820) Accumulated Depreciation-Plant Assets 264,000 $ 232,200 Total Assets Liabilities Current Liabilities: Accounts Payable 35,000 $ 29,900 Accrued Liabilities 28,300 30,200 Long-term Liabilities: 73,000 101,000 Notes Payable Total Liabilities 136,300 161,100 Stockholders' Equity Common Stock, no par 88,800 64,100 38,900 7,000 Retained Earnings 71,100 127,700 Total Stockholders' Equity 264,000 232,200 Total Liabilities and Stockholders' Equity e The 2018 income statement and comparative balance sheet of CanGrow, Inc. folllow: (Click the icon to view the addi (Click the icon to view the income statement.) Read the requirements. EB (Click the icon to view the comparative balance sheet.) CanGrow, Inc. Statement or Casn Flows Income Statement Year Ended December 31, 2018 Year Ended December 31, 2018 Cash Flows from Operating Activities $ 434,000 Net Sales Revenue 99,000 Net Income 205.200 Cost of Goods Sold Adjustments Reconcile Net Income to Net Cash Gross Profit 228.800 Provided by (Used for) Operating Activities: Operating Expenses: Depreciation Expense-Plant Assets S 14,200 Salaries Expense 72,400 Increase in Accounts Receivable (1,500) Depreciation Expense-Plant Assets 14.200 Accounts Payable Increase 5,100 10,700 Other Operating Expenses Decrease in Merchandise Inventory 12,400 97.300 Total Operating Expenses Decrease in Accrued Liabilities (1,900) Operating Income 131.500 Other Income and (Expenses) 28.300 Interest Revenue 8,300 127,300 Net Cash Provided by (Used for) Operating Activities (21.200) Interest Expense Cash Flows from Investing Activities: (12,900) Total Other Income and (Expenses) Cash Payment for Acquisition of Plant Assets Net Income Before Income Taxes 118,600 19.600 Income Tax Expense 99,000 Net Income Net Cash Provided by (Used for) Investing Activities Print Done Choose from any list or enter any number in the input fields and then click Check Answer. The 2018 income statement and comparative balance sheet of CanGrow, Inc. follow: (Click the icon to view F(Click the icon to view the income statement.) Read the requirements (Click the icon to view the comparative balance sheet.) CanGrow, Inc. Statement or Cash Flows Comparative Balance Sheet Year Ended December 31, 2018 December 31, 2018 and 2017 Cash Flows from Operating Activities: 2018 2017 99,000 Net Income Assets Adjustments to Reconcile Net Income to Net Cash Current Assets: (Used for) Operating Activities: Provided 26,400 S 15.500 Depreciation Expense-Plant Assets i Requirements unts Receivable 26,600 25.100 Accounts Receivable Increase handise Inventory 79,500 91,900 Accounts Payable Increase m Assets: 1. Prepare the 2018 statement cash flows, formatting operating activities by Decrease in Merchandise Inventory 34,600 11,000 the indirect method. Decrease in Accrued Liabilities Assets 2. How will what you learned in this problem help you evaluate an investment? 115,300 105,520 (16,820) (18,400) mulated Depreciation-Plant Assets 264.000 S 232.200 Print Done ets Net Cash Provided by (Used for) Operating Activities Liabilities Cash Flows from Investing Activities: Current Liabilities: Cash Payment for Acquisition of Plant Assets Accounts Payable 35.000 S 29,900 Accrued Liabilities 28.300 30.200 Long-term Liabilities: 73.000 101.000 Notes Payable Net Cash Provided by (Used for) Investing Activities