omework Question 4 of 6 Nosker Company Comparative Balance Sheets December 31 Assets 2020 Cash $38.000 Accounts receivable 30,000 Inventory 27,000 Equipment 60,000 Accumulated depreciation-equipment 29,000) Total $126,000 2019 $20,000 14,000 20,000 78.000 (24,000) $108,000 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $24,000 7,000 27,000 18,000 50,000 $126,000 $15,000 8,000 33.000 14.000 38,000 $108.000 TH Chapter 12 Homework Question 4 of 6 0.68/1 Nosker Company Income Statement For the Year Ended December 31, 2020 Sales revenue $242,000 Cost of goods sold 175,000 Gross pront 67,000 Operating expenses 24,000 Income from operations 43,009 Interest expense 3,000 Income before income taxes 40.000 Income tax expense 8,000 Net income $32.000 Additional data: 1. 2 Dividends declared and paid were $20,000. During the year, equipment was sold for $8,500 cash. This equipment cost $18,000 originally and had a book value of $8.500 at the time of sale. IMG_4008 12 Homework Question 4 of 6 0.6871 Additional data: 1. 2 Dividends declared and paid were $20,000 During the year, equipment was sold for $8,500 cash. This equipment cost $18,000 originally and had a book value of $8,500 at the time of sale. All depreciation expense, $14,500, is in the operating expenses. All sales and purchases are on account. 3. 4. (a) Your answer is partially correct. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a sign c.8. -15,000 or in parenthesis es. (15,000).) Nosker Company Question 4 of 6 Nosker Company Statement of Cash Flows Cash Flows from Operating Activities Net Income $ 32000 Adjustments to reconcile net income to $ 14500 - 16000 -7000 9000 -1000 -500 Nosker Company Statement of Cash Flows Cash Flows from Operating Activities Net Income 32000 Adjustments to reconcile net income to $ 14500 - 16000 -7000 Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash 9000 -1000 -500 Question 4 of 6 C -500 31500 8500 A +6000 4000 - 20000 22000 18000 Homework Question 4 of 6 0.68 6000 4000 20000 22000 18000 20000 $ 38000 eTextbook and Media Attematsalafisad