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Nikki's Labs, Inc Income Statement Year Ended September 30,2020 begin{tabular}{lr} hline Sales Revenue & 233,000 Cost of Goods Sold & 92,000 hline Gross
Nikki's Labs, Inc Income Statement Year Ended September 30,2020 \begin{tabular}{lr} \hline Sales Revenue & 233,000 \\ Cost of Goods Sold & 92,000 \\ \hline Gross Profit & 141,000 \end{tabular} Operating Expenses: Salaries Expense 53,000 Depreciation Expense-Plant Assets 22,000 Total Operating Expenses 75,000 Net Income Before Income Taxes 66,000 Income Tax Expense Net Income 56,00010,000 a. Acquisition of plant assets is $125,000. Of this amount, $103,000 is paid in cash and $22,000 by signing a note payable. b. Cash receipt from sale of land totals $23,000. There was no gain or loss. c. Cash receipts from issuance of common stock total $34,000. d. Payment of notes payable is $14,000. e. Payment of dividends is $5,000. f. From the balance sheet: Prepare Nikki's Labs statement of cash flows for the year ended September 30,2020, using the indirect method. Include a separate section for non-cash investing and financing activities Nikki's Labs Statement of Cash Flows - Indirect Method For Year Ending September 30, 2020 Cash Flows for Operating Activities: Adjustment to reconcile Net Income to Net Cash flow Changes in Operating Assets \& Liabilities Net Cash provided by Opeating Activities Cash Flows from Investing Activities: Net Cash used for Investing Activities Cash Flows from Financing Activities: Net Cash provided by Financing Activities Net Increase (Decrease) in Cash Cash Balance - September 30, 2020 Non-Cash Financing Activties: Total Non-Cash Investing \& Financing Activities
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