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may i please have help with the direct method of cash flow and and the include a supplemental schedule of NI to CFO ? thanks
may i please have help with the direct method of cash flow and and the include a supplemental schedule of NI to CFO ? thanks in advance
Class Time: Name: Homework Company 1/1/2018 12/31/2018 12/31/2018 1/1/2018 LIABILITIES AND STOCKHOLDERS' EQUITY ASSETS Current Assets Current Liabilities $ 10,500 13,500 6,000 440 30,440 Cash 14,600 9,300 8,600 Accounts Payable Other Payables Interest Payable Accounts Receivable Inventory PPD Insurance Total Current Assets 5,100 S 4,400 580 10,080 41,000 51,080 6,650 2,590 750 9,990 47,000 56,990 550 Total Current Liabilities Notes Payable Total Liabilities 33,050 Noncurrent Assets Land Buildings & Equipment Build & Equip-Accum. Depn. Total Noncurrent Assets 14,000 180,000 (22,000) 172,000 17,600 Common Stock 128,000 23,360 151 360 202,440 $ 158,000 26,660 184,660 241.650 Retained Earnings Total Equity TOTAL LIAB. AND EQUITY 225,000 (34,000) 208,600 TOTAL ASSETS 202,440 $ 241,650 Other Information Loss on sale of Land $2,500. Original cost $8,500. No sales of Buildings and Equipment during period. No payments of Notes Payable Sales Cost of Goods Sold Gross Margin Operating Expenses Depreciation Insurance Expense Other Operating Expenses Operating Income $ 85,000 (47,000) 38,000 (12,000) (1,900) (11,500) 12,600 (2,800) (2,500) 7,300 Interest Expense Loss on Land Sale Net Income Required: Prepare a direct method cash flow statement based on the information above Include a supplemental schedule of NI to CFO. Use the space below for any calculations. Put the cash flow statement, in proper format, on the back of this pageStep by Step Solution
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