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please answer the questions in the last picture. Thanks More info Transaction Data for 2021: $ 14,700 $ 5,000 46.000 Acquisition of land by issuing
please answer the questions in the last picture. Thanks
More info Transaction Data for 2021: $ 14,700 $ 5,000 46.000 Acquisition of land by issuing long-term note payable Stock dividends Collection of loan Depreciation expense Purchase of building with cash Retirement of bonds payable by issuing common stock Purchase of long-term investment with cash Purchase of treasury stock 198,000 Gain on sale of equipment 31,600 Payment of cash dividends 10.700 Issuance of long-term note 19.000 payable to borrow cash Net income 54,600 58,000 134,000 Issuance of common stock for cash 38.100 75,000 Proceeds from sale of 12.300 equipment 44.800 Amortization expense 4,200 December 31, 2021 2020 Current Accounts: Current assets: Cash and cash equivalents $ 50,600 $ 27,000 Accounts receivable 20.000 64,700 Inventories 10,400 85,000 Prepaid expenses 2,900 2,200 Current liabilities: $ $ 9,400 $ 55,800 Accounts payable Income tax payable Accrued liabilities 17,100 28,400 15,200 27.500 Smithson Software Corp. has assembled the following data for the years ending December 31, 2021 and 2020, Click the icon to view the current accounts) Click the icon to view the transaction data.) Requirement 1. Prepare Smithson's statement of cash flows using the indirect method to report operating activities. Include a schedule of noncash investing and financing activities. Start by completing the cash flows from operating activities. Then complete the remaining sections of the statement of cash Mows including the schedule of noncash investing am for a net decrease in cash.) S 58.000 Smithson Software Corp. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2021 Cash flows from operating activities: Net income Adjustments to reconcile net come to net cash provided by used for operating activities Depreciation expert 19.000 Gain one of our (5.000) Amortion exponse 4,200 46,700 Decrease in accountable DACORSA inventoren 74,000 increase in prepaid expenses (700) Doctease accounts payable (46,400) 11.300 increase in income tax payable (12300) Dacate accrued as 19.400 Calculator Print Decrease in accrued liabilities (12,300) 89,400 147,400 10.700 (134,000) (44,800) 12,300 Net cash provided by (used for) operating activities Cash flows from investing activities: Collection of loan Purchase of building Purchase of long-term investment Proceeds from sale of equipment Net cash provided by (used for) investing activities Cash flows from financing activities: Issuance of long-term note payable Issuance of common stock Payment of cash dividends Purchase of treasury stock Net cash provided by (used for) financing activities (155,800) $ 54,600 38,100 (46,000) (14.700) 32,000 Payment of cash dividends (46,000) (14.700) Purchase of treasury stock 32,000 Net cash provided by used for) financing activities Net increase (decrease) in cash Noncash investing and financing activities: Total noncash investing and financing activities Calculator Print Step by Step Solution
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