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I need help with the answer for statement of cash flows, thank you for your help! structions 1 Dec. 31, 2048 Dec. 31, 2017 2
I need help with the answer for statement of cash flows, thank you for your help!
structions 1 Dec. 31, 2048 Dec. 31, 2017 2 Assets 3 Cash $151,000.00 $190,000.00 4 Accounts receivable (net) 522,000.00 569,000.00 5 Merchandise inventory 968,000.00 759,000.00 6 Prepaid expenses 28,000.00 19,000.00 2.032,000.00 1.424,000.00 7 Equipment Accumulated depreciation-equipment (380,000.00) (304,000.00) 9 Total assets $3,321,000.00 $2.657,000.00 10 Labilities and Stockholders' Equity 10 Instructions Liabilities and Stockholders' Equity 11 Accounts payable (merchandise creditors) 12 Mortgage note payable 13 Common stock. $10 par $190,000.00 $171,000.00 0.00 759,000.00 1.140.000.00 380,000.00 14 Excess of paid-in capital over par 570,000.00 190,000.00 15 Retained earnings 1.421,000.00 1.157,000.00 16 Total liabilities and stockholders' equity $3,321,000.00 $2,657,000.00 Instructions Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2018 are as follows: a Net income, 359,000 b. Depreciation reported on the income statement, $218,000 c Equipment was purchased at a cost of $750,000, and fully depreciated equipment costing $142,000 was discarded, with no salvage realized d. The mortgage note payable was not due for six years, but the forms permitted earlier payment without penalty e 76,000 shares of common stock were issued at $15 for cash Cash dividends declared and paid, 595,000 Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from used for activities Be sure to complete Instructions Statement of Cash Flows Prepare a statement of cash flows, using the indirect method of presenting cash flows from used for operating acties Be sure to complete the heading of the statement. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows decreases in cash and a net cash outflow for each section, if required Orange Angel Enterprises Inc Statement of Cash Flows Label) 1 Cash flows from used for operating activities: 2 Step by Step Solution
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