In the third image I played around with the options and the checkmarks mean these are correct, these are the options from the drop-down menu for the left side where the words are:
Sharp Screen Films, Inc., is developing its annual financial statements at December 31, current year. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized as follows: Current Year Prior Year Balance sheet at December 31 Cash Accounts receivable Merchandise inventory Property and equipment Less: Accumulated depreciation $ 67,350 18,550 25,350 213,150 (62,400) $ 262,000 $ 12,400 4,800 62,600 102,800 79,400 $262,000 $ 65,900 25,350 20,000 152,900 (47,350) $216,800 $ 22,700 5,200 75,800 67,300 45,800 $216,800 Accounts payable Wages payable Note payable, long-term Common stock and additional paid-in capital Retained earnings Income statement for current year Sales Cost of goods sold Depreciation expense Other expenses Net income $209,000 106,000 15,050 44,400 $ 43,550 Additional Data: a. Bought equipment for cash, $60,250. b. Paid $13,200 on the long-term note payable. c. Issued new shares of stock for $35,500 cash. d. Dividends of $9,950 were declared and paid. e. Other expenses all relate to wages. f. Accounts payable includes only inventory purchases made on credit. Required: 1. Prepare the statement of cash flows using the indirect method for the year ended December 31, current year. (List cash outflows as negative amounts.) SHARP SCREEN FILMS, INC. Statement of Cash Flows For the Year Ended December 31, Current Year Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities: olo Net cash provided by operating activities Cash flows from investing activities: Cash payments to purchase property and equipment Net cash used in investing activities Cash flows from financing activities: Cash payments for dividends Cash payments on long-term note Cash receipts from issuing stock 0 Net increase in cash during the year Cash balance, January 1, current year Cash balance, December 31, current year $ 0 SHARP SCREEN FILMS, INC. Statement of Cash Flows For the Year Ended December 31, Current Year Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities: 0 0 Net cash provided by operating activities Cash flows from investing activities: Cash payments to purchase property and equipment 0 Net cash used in investing activities Cash flows from financing activities: Cash payments for dividends Cash payments on long-term note Cash receipts from issuing stock 0 Net cash provided by financing activities Net increase in cash during the year Cash balance, January 1, current year Cash balance, December 31, current year $ 0 Cash payments for dividends Cash payments on long-term note Cash payments to purchase property and equipment Cash receipts from issuing stock Decrease in accounts payable Decrease in accounts receivable Decrease in merchandise inventory Decrease in wages payable Depreciation expense Increase in accounts payable Increase in accounts receivable Increase in merchandise inventory Depreciation expense Increase in accounts payable Increase in accounts receivable Increase in merchandise inventory Increase in wages payable
