Indicate where each item would appear on a statement of cash flows using the indirect method by placing an X in the appropriate column(s). (More than one column may be used.) Statement of Cash Flows Noncash Investing Financing Activities Not Reported on Statement or in Notes Operating Activities Investing Activities Financing Activities a. Declared and paid a cash dividend b. Recorded depreciation expense c. Paid cash to settle long-term notes payable d. Prepaid expenses increased in the year e. Accounts receivable decreased in the year f. Purchased land by issuing common stock g. Inventory increased in the year h. Sold equipment for cash, yielding a loss i. Accounts payable decreased in the year j. Income taxes payable increased in the year Hampton Company reports the following information for its recent calendar year. Income Statement Data Sales Expenses: Cost of goods sold Salaries expense Depreciation expense Net income Selected Year-End Balance Sheet Data $ 160,000 Accounts receivable increase Inventory decrease 100,000 salaries payable increase 24,000 12,000 $ 24,000 $ 10,000 16,000 1,000 Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activitiesindirect method Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities Fitz Company reports the following information. Selected Annual Income Statement Data Net income Depreciation expense Amortization expense Gain on sale of plant assets Selected Year-End Balance Sheet Data $ 400,000 Accounts receivable decrease 46,800 Inventory decrease 8,600 Prepaid expenses increase 6,800 Accounts payable decrease Salaries payable increase $ 119,000 50,500 5,700 8,300 1,300 Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended December 31. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities a. Equipment with a book value of $65,300 and an original cost of $133,000 was sold at a loss of $14,000. b. Paid $89,000 cash for a new truck. c. Sold land costing $154,000 for $198,000 cash, yielding a gain of $44,000. d. Stock investments were sold for $60,800 cash, yielding a gain of $4,150. Use the above information to determine cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from investing activities a. Net income was $35,000. b. Issued common stock for $64,000 cash. C. Paid cash dividend of $14,600. d. Paid $50,000 cash to settle a long-term notes payable at its $50,000 maturity value. e. Paid $12,000 cash to acquire its treasury stock. f. Purchased equipment for $39,000 cash. Use the above information to determine cash flows from financing activities. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from financing activities Classify the following cash flows as either operating, investing, or financing activities, assuming the indirect method. Cash Flow Activity 1. Paid cash for property taxes on building. 2. Received cash dividends from investments. 3. Paid accounts payable with cash. 4. Sold stock investments for cash. 5. Paid cash for a building. 6. Cash paid to purchase investments. 7. Received cash from long-term debt issuance. 8. Issued preferred stock for cash. 9. Issued common stock for cash. 10. Purchased inventories with cash. Indicate the effect each separate transaction has on investing cash flows. (Amounts to be deducted should be indicated with a minus sign.) a. Sold a truck costing $40,000, with $22,000 of accumulated depreciation, for $8,000 cash. The sale results in a $10,000 loss. b. Sold a machine costing $10,000, with $8,000 of accumulated depreciation, for $5,000 cash. The sale results in a $3,000 gain. c. Purchased stock investments for $16,000 cash. The purchaser believes the stock is worth at least $30,000. Cash flows from investing activities ! Required information (The following information applies to the questions displayed below.) The plant assets section of the comparative balance sheets of Anders Company is reported below. 2020 ANDERS COMPANY Comparative Year-End Balance Sheets 2021 Plant assets Equipment $ 270,000 Accumulated depreciation-Equipment (136,000) Equipment, net $ 134,000 Buildings $ 470,000 Accumulated depreciation-Buildings (154,000) Buildings, net $ 316,000 $ 360,000 (246,000) $ 114,000 $ 490,000 (339,000) $ 151,000 During 2021, equipment with a book value of $58,000 and an original cost of $300,000 was sold at a loss of $6,600. 1. much cash did Anders receive from the sale of equipment? 2. How much depreciation expense was recorded on equipment during 2021? 3. What was the cost of new equipment purchased by Anders during 2021? 1. Cash received from the sale of equipment 2. Depreciation expense 3. Purchase of equipment Required information [The following information applies to the questions displayed below. The plant assets section of the comparative balance sheets of Anders Company is reported below. 2020 ANDERS COMPANY Comparative Year-End Balance Sheets 2021 Plant assets Equipment $ 270,000 Accumulated depreciation-Equipment (136,000) Equipment, net $ 134,000 Buildings $ 470,000 Accumulated depreciation-Buildings (154,000) Buildings, net $ 316,000 $ 360,000 (246,000) $ 114,000 $ 490,000 (339,000) $ 151,000 During 2021, a building with a book value of $88,000 and an original cost of $390,000 was sold at a gain of $78,000. 1. How much cash did Anders receive from the sale of the building? 2. How much depreciation expense was recorded on buildings during 2021? 3. What was the cost of buildings purchased by Anders during 2021? 1. Cash received from the sale of building 2. Depreciation expense 3. Purchase of building