Please complete the statement of cash flows. Thank you!

Yes, there is no additional information provided for ascertaining net income.

Jolly Corporation E Balance Sheet Question Parts Page 3 As On 12/31/ 20xx (in $1 Assets Current Assets Cash 518,657 Accounts Receivables (gross) 36,362 Less Allowance for doubtful debts (1,740) Accounts receivables (Net) 34,622 Inventories 54 254 Total Current Assets 607,533 Investments Investments in Debt 170,000 Total Investments 170,000 v Noncurrent Assets Land 0 Building at Cost 215,850 Total current Liabilities 261,387 261.987 Less Accumulated depreciation (67,940) Noncurrent Liabilities Building (Net) 147,910 Bonds payable 325,000 Equipment at Cost 75,120 Less discount on bond payable (10,091) Less accumulated depreciation (28,072) Bond payable (net) 314,909 Equipment (Net) 47,048 Total Long Term liabilities 314,909 Total Noncurrent Assets 194,958 Stockholders' Equity Total Assets 972,491 Common stock 40,800 Liabilities & Equity Paid-In-Capital in excess of par-Common stock - 75,030 Liabilities Preferred stock 31,200 Current Liabilities Paid in capital in excess of par- Preferred stock 44.610 Accounts payable 32,578 Treasury stock (28,800) Interest payable 17,875 Retained earning 232,755 Unearned rent revenue 36,200 Total Stockholders' equity 395,595 Dividend payable 57,660 Total liabilities & Stockholders' equity 972,491 Income tax payable 117,674 (f) Statement of Cash Flows: Jolly CORPORATION Comparative Balance Sheets December 31 of the previous year Accounts Receivable (net of AFDA) Inventory Land Buildings Equipment Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accounts Payable Interest Payable Unearned Rent Revenue Dividends Payable Income Tax Payable 11,208 15,790 55,674 215,850 75,120 63,306 16,048 47,598 OOOO Instructions: Use the Balance Sheet for December 31, 20XX and the above ending balances for last year's Balance Sheet accounts to prepare the "Net cash provided by operating activities" section of the Cash Flow Statement below using the indirect method. $ $ Jolly CORPORATION Statement of Cash Flows December 31, 20XX Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities Add: Depreciation expense Add: Bad debt expense Less: Gain on sale of land Increase in accounts receivable Increase in inventory Decrease in accounts payable Increase in unearned rent revenue Increase in interest payable Increase in dividends payable Increase in income taxes payable Net cash provided by operating activities $ Jolly Corporation E Balance Sheet Question Parts Page 3 As On 12/31/ 20xx (in $1 Assets Current Assets Cash 518,657 Accounts Receivables (gross) 36,362 Less Allowance for doubtful debts (1,740) Accounts receivables (Net) 34,622 Inventories 54 254 Total Current Assets 607,533 Investments Investments in Debt 170,000 Total Investments 170,000 v Noncurrent Assets Land 0 Building at Cost 215,850 Total current Liabilities 261,387 261.987 Less Accumulated depreciation (67,940) Noncurrent Liabilities Building (Net) 147,910 Bonds payable 325,000 Equipment at Cost 75,120 Less discount on bond payable (10,091) Less accumulated depreciation (28,072) Bond payable (net) 314,909 Equipment (Net) 47,048 Total Long Term liabilities 314,909 Total Noncurrent Assets 194,958 Stockholders' Equity Total Assets 972,491 Common stock 40,800 Liabilities & Equity Paid-In-Capital in excess of par-Common stock - 75,030 Liabilities Preferred stock 31,200 Current Liabilities Paid in capital in excess of par- Preferred stock 44.610 Accounts payable 32,578 Treasury stock (28,800) Interest payable 17,875 Retained earning 232,755 Unearned rent revenue 36,200 Total Stockholders' equity 395,595 Dividend payable 57,660 Total liabilities & Stockholders' equity 972,491 Income tax payable 117,674 (f) Statement of Cash Flows: Jolly CORPORATION Comparative Balance Sheets December 31 of the previous year Accounts Receivable (net of AFDA) Inventory Land Buildings Equipment Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accounts Payable Interest Payable Unearned Rent Revenue Dividends Payable Income Tax Payable 11,208 15,790 55,674 215,850 75,120 63,306 16,048 47,598 OOOO Instructions: Use the Balance Sheet for December 31, 20XX and the above ending balances for last year's Balance Sheet accounts to prepare the "Net cash provided by operating activities" section of the Cash Flow Statement below using the indirect method. $ $ Jolly CORPORATION Statement of Cash Flows December 31, 20XX Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities Add: Depreciation expense Add: Bad debt expense Less: Gain on sale of land Increase in accounts receivable Increase in inventory Decrease in accounts payable Increase in unearned rent revenue Increase in interest payable Increase in dividends payable Increase in income taxes payable Net cash provided by operating activities $