Panel A-Balance Sheet: Minerals Plus, Inc. Spreadsheet for Statement of Cash Flows Year Ended September 30, 2018 Balance 9/30/2017 Transaction Analysis Balance DEBIT CREDIT 9/30/2018 Cash $ 13,000 (1) 20,000 $ 33,000 Accounts Receivable Merchandise Inventory Plant Assets 51,000 93,000 (d) 11,000 (c) 40,000 3,000 96,000 55,000 (91) 169,000 (92) Accumulated Depreciation-Plant Assets Land Total Assets (35,000) 107,000 $ 284,000 30,000 (b) (65,000) 83,000 24,000 (h) 356,000 Cash Flows from Investing Activities: Cash Payment for Acquisition of Plant Assets (91) (h) Cash Receipt for Sale of Land Net Cash Used for Investing Activities Cash Flows from Financing Activities: Cash Payment of Notes Payable Cash Receipt from Issuance of Common Stock Cash Payment of Dividends Net Cash Used for Financing Activities Net Increase in Cash Non-cash Investing and Financing Activities: Acquisition of Plant Assets by Issuing NP Total Non-cash Investing and Financing Activities Total Minerals Plus, Inc. (j) (k) (1) (92) (92) a. Acquisition of plant assets is $114,000. Of this amount, $102,000 is paid in cash and $12,000 by signing a note payable. b. Cash receipt from sale of land totals $24,000. There was no gain or loss. c. Cash receipts from issuance of common stock total $26,000. Income Statement Year Ended September 30, 2018 d. Payment of note payable is $11,000. Net Sales Revenue $ 236,000 e. Payment of dividends is $13,000. 97,000 Cost of Goods Sold f. From the balance sheet: Gross Profit 139,000 Operating Expenses: Salaries Expense $ 50,000 30,000 Depreciation Expense-Plant Assets Total Operating Expenses Net Income Before Income Taxes Income Tax Expense Net Income Print Done 2018 September 30 2017 Cash $ 33,000 $ 13,000 Accounts Receivable 80,000 59,000 Merchandise Inventory 40,000 96,000 51,000 93,000 Land 83,000 107,000 7,000 Plant Assets 169,000 55,000 $ 52,000 Accumulated Depreciation (65,000) (35,000) Accounts Payable 39,000 24,000 Accrued Liabilities 18,000 27,000