Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need statement of cash flows. thank you Based on the following information, prepare the statement of cash flows using the indirect method. Sleet Company

i need statement of cash flows. thank you image text in transcribed
Based on the following information, prepare the statement of cash flows using the indirect method. Sleet Company Balance Sheet 2015 2014 $37.500 41.500 $15,600 43,100 Change $21,900 (1,600) (300) 4,400 (500) 600 Current assets: Cash Accounts receivable Interest Receivable Inventory Prepaid expenses Long-term assets Plant & equipment (net) Land 900 94,300 1,700 89.900 2,200 100,900 35,100 93,700 10,000 7,200 25,100 Total Assets 311,600 255,400 16,400 6,300 2,100 18,100 6,300 17.900 6,700 1,400 18,700 3,800 (1,500) (400) 700 (600) 2,500 Current liabilities: Accounts payable Interest payable Salary Payable Other accruals Tax payable Long-term liabilities Note payable Stockholder's equity Common stock Retained earnings 55,000 65,000 (10,000) 131,100 76,300 122,300 19.600 8,800 56,700 311,600 255,400 Total Liabilities and Equity Income Statement For the Year Ended December 31, 2015 Revenues: Sales $461,800 11.200 Interest Revenue 473,500 Total Revenue Expenses: Cost of goods sold 206,200 15,300 Depreciation expense 76,400 Salary expense 49,700 Other operating expenses 24,600 Interest expense 16,900 Tax expense 388.100 Total expense 85,400 Net Income

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Terms Dictionary Investment Terminology Explained

Authors: Thomas Herold, Wesley Crowder

1st Edition

1521725764, 978-1521725764

More Books

Students also viewed these Finance questions