P S S P P P A G G h P 29 10 Ne G G G S C mathxl.com/Student/PlayerTest.aspx?testld=205546672 m M ili Apps @ YouTube % Maps M Gmail COMM 1AA3- Fall 2019 Mohamed Essa & | 9/29/19 6:27 PM Quiz: Online Marked Quiz 3: Chapter 10 Submit Quiz This Question: 30 pts 4 15 of 25 (20 complete) This Quiz: 100 pts possible The 2017 comparative balance sheet and income statement of Outdo i Comparative balance sheet - X the year, there were no sales of land or equipment, no issuance of notes payable, and no repurchase of shares transactions (Click the icon to view the comparative balance sheet.) Requirements 1. Prepare the 2017 statement of cash flows, formatting operating a Outdoor Supply Corp. 2. How will what you learned in this problem help you evaluate an in Comparative Balance Sheet As at December 31, 2017 and 2016 Requirement 1. Prepare the 2017 statement of cash flows, formatting December 31, Increase Start by completing the cash flows from operating activities. Then, co that are typically shown enclosed in parentheses in a statement 2017 2016 Decrease) cash. (Use a minus sign or parentheses for subtracting numbers Outdoor Supply Corp. Current assets: Statement of Cash Flows Cash and cash. equivalents . . . . $ 17,400 $ 5,200 $ 12,200 For the Year Ended December 31, 2017 Accounts receivable. . . 42,100 44,000 (1,900) Cash flows from operating activities Inventories. 83,700 87,700 (4,000) Net income Prepaid expenses . .. . . . . . . . . . . . . . 1,900 1,400 500 Adjustments to reconcile net income to Property, plant, and equipment: net cash provided by operating activities: Land. .... 89,000 60,000 29,000 53,500 3.800 Depreciation Equipment, net. . . . 49,700 Total assets . . . . . . . $ 287,600 $ 248,000 $ 39,600 Decrease in accounts recievable Decrease in inventories Current liabilities: Increase in prepaid expenses Accounts payable. . . ... . . . . . . . . . . . 35,700 $ 33,600 $ 2,100 Increase in accounts payable Salary.payable. . . . . . . . . . . . . . . . . . . . . . . . . 2,300 6,50 (4,200) Enter any number in the edit fields and then continue to the next Print Done ? 4P S S P P P A G G h P 29 10 Ne G G G S C mathxl.com/Student/PlayerTest.aspx?testld=205546672 m M ili Apps @ YouTube % Maps M Gmail COMM 1AA3- Fall 2019 Mohamed Essa & | 9/29/19 6:27 PM Quiz: Online Marked Quiz 3: Chapter 10 Submit Quiz This Question: 30 pts 4 15 of 25 (20 complete) This Quiz: 100 pts possible The 2017 comparative balance sheet and income statement of Outdo i Comparative balance sheet - X the year, there were no sales of land or equipment, no issuance of notes payable, and no repurchase of shares transactions (Click the icon to view the comparative balance sheet.) Requirements Accounts receivable. 42,100 44,000 (1,900) 1. Prepare the 2017 statement of cash flows, formatting operating a 2. How will what you learned in this problem help you evaluate an in Inventories . .. . .. 83,700 87,700 (4,000) Prepaid expenses . 1,900 1,400 500 Requirement 1. Prepare the 2017 statement of cash flows, formatting Property, plant, and equipment: Start by completing the cash flows from operating activities. Then, co Land. . . . . 89,000 60,000 29,000 cash. (Use a minus sign or parentheses for subtracting numbers that are typically shown enclosed in parentheses in a statement Equipment, net. .... 53,50 49,700 3,800 Outdoor Supply Corp. Total assets . . $ 287,600 $ 248,000 $ 39,600 Statement of Cash Flows Current liabilities: For the Year Ended December 31, 2017 Accounts payable. . . . . . $ 35,700 $ 33,600 $ 2,100 Cash flows from operating activities Salary.payable. . .. 2,30 6,50 (4,200) Net income Other accrued liabilities . . . . . . 22,300 23,800 (1,500) Adjustments to reconcile net income to Long-term liabilities: net cash provided by operating activities: Notes payable . .. 75,000 108,000 (33,000) Depreciation Shareholders' equity: Decrease in accounts recievable Common shares. . .... 88,000 64,700 23,300 Decrease in inventories Retained earnings . . . . . . 64,300 11,40 52,900 Increase in prepaid expenses Total liabilities.and shareholders' equity.. . . . . . . . . . $ 287,600 $ 248,000 $ 39,600 Increase in accounts payable Enter any number in the edit fields and then continue to the next Print Done ? 4P S S P P P A G G h P 29 10 Ne G G G S C mathxl.com/Student/PlayerTest.aspx?testld=205546672 m M ili Apps @ YouTube % Maps M Gmail COMM 1AA3- Fall 2019 Mohamed Essa & | 9/29/19 6:27 PM Quiz: Online Marked Quiz 3: Chapter 10 Submit Quiz This Question: 30 pts 4 15 of 25 (20 complete) This Quiz: 100 pts possible The 2017 comparative balance sheet and income statement of Outdoor Supply Corn follow Outdoor had no non-cash investing and financing transactions during 2017. During the year, there were no sales of land or equipment, no issuance of notes payable, and no repurchase of shares transactions (Click the icon to view the comparative balance sheet.) (Click the i Income statement - X Requirements 1. Prepare the 2017 statement of cash flows, formatting operating activities by us 2. How will what you learned in this problem help you evaluate an investment? Outdoor Supply Corp. Requirement 1. Prepare the 2017 statement of cash flows, formatting operating ac Income Statement Start by completing the cash flows from operating activities. Then, continue with co For the Year Ended December 31, 2017 t increase in cash. (Use a minus sign or parentheses for subtracting numbers that are typically shown enclosed in parentheses in a statement of cash flows Revenues Outdoor Supply Corp. Sales revenue . . . . . . . . . . . . $ 442,000 Statement of Cash Flows Expenses: For the Year Ended December 31, 2017 Cast of goods. sold. . . . $ 185,000 Cash flows from operating activities Salary. expense . . . 76,400 Net income Depreciation. expense . . . . . . 1,200 Adjustments to reconcile net income to Other operating expense. . . . 10,300 net cash provided by operating activities: Interest.expense . 24,600 Depreciation Income tax. expense . . . . . . . 29,000 Decrease in accounts recievable Total expenses. . . . . 329,500 Decrease in inventories Net income. . . . . . . . . . . . . . . $ 112,500 Increase in prepaid expenses Increase in accounts payable Print Done Enter any number in the edit fields and then continue to the next question. ? 4P S S P P P A G G h P 29 10 Ne G G G S C mathxl.com/Student/PlayerTest.aspx?testld=205546672 m M ili Apps @ YouTube % Maps M Gmail COMM 1AA3- Fall 2019 Mohamed Essa & | 9/29/19 6:30 PM Quiz: Online Marked Quiz 3: Chapter 10 Submit Quiz This Question: 30 pts 4 15 of 25 (20 complete) This Quiz: 100 pts possible The 2017 comparative balance sheet and income statement of Outdoor Supply Corp. follow. Outdoor had no non-cash investing and financing transactions during 2017. During the year, there were no sales of land or equipment, no issuance of notes payable, and no repurchase of shares transactions (Click the icon to view the comparative balance sheet.) (Click the icon to view the income statement.) Requirements 1. Prepare the 2017 statement of cash flows, formatting operating activities by using the indirect method. 2. How will what you learned in this problem help you evaluate an investment? Outdoor Supply Corp. Statement of Cash Flows For the Year Ended December 31, 2017 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation Decrease in accounts recievable Decrease in inventories Increase in prepaid expenses Increase in accounts payable Decrease in salary payable Decrease in other accrued liabilities Net cash provided by operating activities Enter any number in the edit fields and then continue to the next question. ? 4P S S P P P A G G h P 29 10 Ne G G G S C mathxl.com/Student/PlayerTest.aspx?testld=205546672 m M ili Apps @ YouTube % Maps M Gmail COMM 1AA3- Fall 2019 Mohamed Essa & | 9/29/19 6:30 PM Quiz: Online Marked Quiz 3: Chapter 10 Submit Quiz This Question: 30 pts 4 15 of 25 (20 complete) This Quiz: 100 pts possible The 2017 comparative balance sheet and income statement of Outdoor Supply Corp. follow. Outdoor had no non-cash investing and financing transactions during 2017. During the year, there were no sales of land or equipment, no issuance of notes payable, and no repurchase of shares transactions (Click the icon to view the comparative balance sheet.) (Click the icon to view the income statement.) Requirements 1. Prepare the 2017 statement of cash flows, formatting operating activities by using the indirect method. 2. How will what you learned in this problem help you evaluate an investment? Net cash provided by operating activities Cash flows from investing activities: Purchase of land Purchase of equipment Net cash used for investing activities Cash flows from financing activities: Payment of dividends Payment of note payable Issuance of common shares Net cash used for financing activities Net increase in cash Cash balance, December 31, 2016 Cash balance, December 31, 2017 Requirement 2. How will what you learned in this problem help you evaluate an investment? Enter any number in the edit fields and then continue to the next question. ? 4