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Johnson Office Machines, Inc.'s accountants assembled the following selected data for the year ended December 31, 2018: E (Click the icon to view the current
Johnson Office Machines, Inc.'s accountants assembled the following selected data for the year ended December 31, 2018: E (Click the icon to view the current accounts.) (Click the icon to view the transaction data.) Requirement 1. Prepare Johnson Office Machines, Inc.'s statement of cash flows using the indirect method to report operating activities. List noncash investing and financing activities on an accompanying schedule. Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use parentheses or a minus sign for numbers to be subtracted.) Johnson Office Machines, Inc. Statement of Cash Flows Year Ended December 31, 2018 Data Table - X A Data Table Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by (used for) operating activities: Depreciation expense 2017 Johnson Office Machines, Inc. December 31 2018 Current assets: Cash and cash equivalents .....$ 72,600 $ Accounts receivable ........... 70,000 Inventory .................. 79,400 Current liabilities: Accounts payable ............$ 58,500 $ Income tax payable 14,800 24,000 64,400 84,000 Transaction Data for 2018: Net income ........... $ 57,800 Purchase of treasury stock... 14,400 Issuance of common stock for cash 36,300 Loss on sale of equipment.. 11,000 Payment of cash dividends......... 18,400 Depreciation expense 21,800 Issuance of long-term note payable in exchange for cash ... 32,000 Purchase of building for cash. 128,000 Retirement of bonds payable by issuing common stock ....... 66,000 Sale of equipment for cash 51,000 55,700 17,100 Net cash provided by (used for) operating activities Cash flows from investing activities: Print Done Print Done Net cash provided by (used for) investing activities Cash flows from financing activities: Net cash provided by (used for) financing activities Net increase (decrease) in cash: Cash balance, December 31, 2017 Cash balance, December 31, 2018 Noncash investing and financing activities
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