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Please help to calculate cash payment of dividends on statement of cash flow The 2018 income statement and comparative balance sheet of McKnight, Inc. follow
Please help to calculate cash payment of dividends on statement of cash flow
The 2018 income statement and comparative balance sheet of McKnight, Inc. follow EEE (Click the icon to view the income statement) (Click the icon to view the comparative balance sheet) Cash Flows from Operating Activities: $ 105,000 Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Depreciation Expense-Plant Assets Increase in Accounts Receivable Decrease in Merchandise Inventory Increase in Accounts Payable Decrease in Accrued Liabilities 14,000 (1,700) 12,000 5,300 (1,600) 28,000 133,000 Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Cash Payment for Acquisition of Plant Assets (23,200) (23,200) Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Cash Payment of Dividends Cash Payment of Notes Payable Cash Receipt from Issuance of Common Stock (54,500) 23,900 Net Cash Provided by (Used for) Financing Activities Choose from any list or enter any number in the input fields and then click Check Answer parts remaining HW S More Info 1 Cick the icon to viewr the addtional Read the requirements Additionally: McKnight purchased land of S24500 by financing t 100% with long-term notes payable during 2018. During the year there were no sales of land no retirements of stock, and no treasury stock transactions. A plant asset wa disposed of for $0. The cost and accumulated depreciation of the disposed asset was $11.570. The plant acquisition was for cash 6 Data Table December 31. 2018 and 2017 PrintDone 2018 2017 Assets McKnight. Inc. Income Statement Current Assets: 100 S Cash Accounts Recevable Merchandise Invento 2018 Net Sales Revenue Cost of Goods Sold Groeu Profn S 444,000 201,200 242800 801000 Long-term Assets Land Plant Assets Accumulated Depreciation ating Expenses S 79.400 14,000 10,900 Plant Assets 6O2321900 Total Assets Operating Expenses Total Operating Expenses Liabil 104,300 Current Liabilities Income 138,500 Accounts Payable Accrued Liabilities 28 Othier Income and (Expenses) 8.200 Interest Revenue Interest Expense rotal Other Income and (Expenses) Long-term Liabilities: T2 000 (21,800) Notes Payable (13,600) 124.900 19.900 S 105,000 Total Liabilities 135.900 kholders Equity Common Stock, no par Retained Earnings Total Stockholders Equity Total Liabilities and Stockholders Equity 88,00064.100 43.500 131,500 Net Income Before Income Taxes Income Tax Expense Net Income 6,600 o ro S 267,400232,900 Print DoneStep by Step Solution
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