Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

needing help on how calculate the acquisition. please show all work. thanks (Click the icon te ne 2018 income statement and comparative balance sheet of

needing help on how calculate the acquisition. please show all work. thanks image text in transcribed
image text in transcribed
image text in transcribed
(Click the icon te ne 2018 income statement and comparative balance sheet of Granite Rock, Inc. follow: (Click the icon to view the income statement.) Read the requiremer Click the icon to view the comparative balance sheet.) Complete the statement one section at a time, beginning with the cash flows from operating activities. 109,600 Granite Rock, Inc. Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities Depreciation Expense-Plant Assets Increase in Accounts Receivable Decrease in Merchandise Inventory Increase in Accounts Payable 14,300 (1.100) 13,000 4.900 (2.200) 28.900 Decrease in Accrued Liabilities Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: 138,500 Cash Payment for Acquisition of Plant Assets Net Cash Provided by (Used for) Investing Activities Choose from any list or enter any number in the input fields and then click Check Answer 4 parts remaining Clear All Type here to search e SE 3 Wile HP Compaq LEO TUIs Complete) meet of Granite Rock Inc. follow Ice the con to wow the addiona information.) et) i Data Table g with the =k, Inc. Cash Flows mber 31, 2 Granite Rock, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue $ 444,000 Cost of Goods Sold 203,200 Gross Profit 240,800 Operating Expenses Salaries Expense $ 74.400 Depreciation Expense-Plant Assets 14,300 10.100 Other Operating Expenses Total Operating Expenses 98.800 Operating Income 142,000 Other Income and (Expenses) Interest Revenue 8,900 (21,400) Interest Expense Total Other Income and (Expenses) (12,500) Net Income Before Income Taxes 129.500 19,900 Income Tax Expense $ 109,600 Net Income wities vities Print Done the input fields as Clear All 1 of 3 (1 complete) shed 0 Data Table heet) sing wil lock, Cash icember 26,500 $ 26,300 79,000 14.900 25,200 92,000 ash 9.000 35.400 119.680 (19.780) 267.100 5 108.520 (16.820) 232.800 Assets Current Assets Cash Accounts Receivable Merchandise Inventory Long term Assets Land Plant Assets Accumulated Depreciation Plant Assets Total Assets Llabilities Current Liabies Accounts Payable Accrued Liabilities Long-term Liabilities Notes Payable Total Liabilities Stockholders' Equity Common Stock no por Retained Earnings Total Stockholders' Equity Total and Stockholders Print Done 35200 $ 28 200 30,300 30.000 72.000 135 400 101.000 161.700 88200 430 54.000 131 700 267.100 5 212.800 in the inputte

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management and Cost Accounting

Authors: Colin Drury

8th edition

978-1408041802, 1408041804, 978-1408048566, 1408048566, 978-1408093887

Students also viewed these Accounting questions