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Statement of cash flows-indirect method Instructions Labels and Amount Descriptions Statement of Cash Flows Final Question Instructions The comparative balance sheet of Pelican Joe Industries Inc. for December 31, 2016 and 2015, is as follows: Dec. 31,2016 Dec. 31,2015 s Cash 490.00 80.00 17500 400.00 225.00 (60.00) $160.00 Accounts receivable (net s Inventories s Land ) Equipment 110.00 450.00 175.00 30.00) 1,065.00 Total assets $1,510.00 Liabilities and Stockholders'Equity Accounts payable (merchandise creditors) Dividends payable 175.00 0.00 10000 250.00 955.00 $1,510.00 160.00 Common stock, $10 par Paid-in capital: Excess of issue price over par-common stock 0.00 125.00 730.00 1065.00 sRetained eamings Total Viabilities and stockholders' equity The tolowing additional information is taken from the more Check My Work uses remaining Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable 13 Common stock, $10 par 4 Paid-in capital: Excess of issue price over par-common stock is Retained eamings $175.00 0.00 100.00 250.00 955.00 151000 160.00 50.00 125.00 30.00 Total liabilities and stockholders' equity 1,065.00 he tollowing additional information is taken from the records: 1. Land was sold for $125. 2. Equipment was acquired for cash. 3. There were no disposals of equipment during the year 4 The common stock was issued for cash 5. There was a $325 credit to Retained Eamings for net income 6. There was an $100 debit to Fletained Earnings for cash dividends deciared Required: A. Prepare a statoment of cash flows, using the indirect method of presenting cash fows from aperating.actvies. Refer to the Descriptions list provided for the exact wording of the answer choioes for text entnies. Be sure to complete the heading of the statement in the operating activities section, use the minus sign to indicate cash outticws, decreases in cash and a and inanoing activities section, use a minus sign only to indicate a NET cash outtlow for the section not cash out Now required in the invessing B Was the net cash flow from operations for Pelican Joe industries inc. more or less than net income? What is the source of this dilence? Previ Check My Work more Check My Work uses remaining All work saved Labels and Amount Descriptions Statement of Cash Flows Final Q Instructions Labels and Amount Descriptions Amortization of intangible assets Cash paid for dividends Cash paid for purchase of equipment Cash received from sale of common stock Cash received from sale of land December 31,2016 Decrease in accounts payable Decrease in accounts receivable Decrease in cash Decrease in inventories For the Year Ended December 31, 2016 Gain on sale of land Increase in accounts payable Increase in accounts receivable Increase in cash Increase in invetories Loss on sale of land Not cash flow from operating activities Net cash fiow used for operating activities Net cash flow trom investing activities Net eash fiow used for investing actvities Net cash flow from inancing activities Net cash fiow used for financing activities Check My Work 3 more Check My Work uses remaining All work saved. Save and Show Me How Caloulator eBook Statement of Cash Flows Statement of Cash Flows Labe) Cash lows from operating activities Adjustments to reconcle net income to net cash flow from operating activities Changes in aurrent operating assets and liabilities Cash fows from investing activities: s Cash flows from financing activities C the beginning of the year n Cash at the end of the year 3 more Check My wonk uses remaining eBook Show Me How Caloulator Statement of Cash Flows A. Prepare a statement of cash lows, using the indirect method of presenting cash flowsfrom aperating actvities. Reler to the Labeis and Amoune Descriptions ist NET cash outflow for the section Pelican Joe Industries Inc Statement of Cash Flows Cash flows from operating activiies justments to reconcile net income to net cash Rlow from operating actlivides hanges in ounment operating assets and abies Cash ows trom investing activiies Previous