Kimmel, Accounting, 6e Help I System Announcements (1 Unread) CES 12 Do It!l Review 12-2b Splish Brothers Inc. reported the following information for 2017. Splish Brothers Inc Comparative Balance Sheets December 31 Change 2016 Increase/Decrease Assets Cash Accounts receivable Inventory Prepaid expenses 2017 $55,490 $35,760 $19,730 Increase 61,640 21,790 39,850 Increase 43,890 43,890 Increase 3,970 54,91069,520 198,520 198,520 6,050 2,080 Increase 14,610 Decrease Accumulated depreciation-buildings (20,880) (13,920) 6,960 Increase 182,98067,590 115,390 Increase Accumulated depreciation-equipment (28,090)(9,910) 18,180 Increase $554,510 $373,320 Totals Liabilities and Stockholders Equity $43,400 $40,240 10,020 99,900 149,610 59,500 182,160 113,950 $554,510 $373,320 Accounts payable Accrued expenses payable Bonds payable Common stock ($1 par) Retained earnings $3,160 Increase 10,020 Decrease 49,710 Decrease 229,050 169,550 Increase 68,210 Increase For the Year Ended December 31, 2017 2 3 4 CALCIATOR PRNTER ESOURCES Retained earnings n case 182,160 113,950 68,210 Increase 554,510 $373,320 JE Totals Splish Brothers Inc. se 12-10 For the Year Ended December 31, 2017 Sales revenue Cost of goods sold Operating expenses Interest expense Loss on disposal of equipment Income before income taxes Income tax expense $936,810 $473,060 231,970 12,060 1,980 2-2 2-2A 2-3A 719,070 217,740 65,040 $152,700 Net income cise 12-1 Additional information: 1. 2 Land was sold at its book value for cash. Operating expenses include depreciation expense of $39,940. ults by Study 3. Cash dividends of $84,490 were declared and paid in 2017 010 was purchased for cash. Equlpment with a cost of $50,620 and a book value of $35,820 was sold for $33,840 cash Bonds of $49,710 were redeemed at their face value for cash. Common stock ($1 par) of $169,550 was issued for cash 5. 6. aither a sign e.g. -15.000 Use this information to prepare a statement of cash nlows using the indirect method. (Show amounts that decrease cash flow with parenthesis e.g.(15,000).) Splish Brothers Inc Statement of Cash Flows-Indirect Method
