Please help with these questions 1-6. Thanks.

Using the following income statement and additional year-end information 1 1 167 points $1,796,000 880,840 915,960 Spoed SOMAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $246,052 Depreciation expense 43, 164 Rent expense 48,492 Amortization expenses-Patents utilities expense Gain on sale of equipment Net income 5,383 19.756 362292 553,168 7.184 $ 560,352 Accounts receivable Inventory $26,950 Increase 13,100 Increase Accounts payable Salaries payable $ 8,325 decrease 4,300 decrease Prepare the operating activities section of the statement of cash flows using the direct method (Amounts to be deducted indicated with a minus sign.) Statement Chin Partial 1 1 Accounts receivable Inventory $26,950 Increase 13,100 Increase Accounts payable Salaries payable $ 8,325 decrease 4,308 decrease 167 points Prepare the operating activities section of the statement of cash flows using the direct method (Amounts to be deducted should be indicated with a minus sign.) Skloped Statement of Cash Flows Partial) Cash flows from operating activities 0 A comparative balance sheet and income statement is shown for Cruz, Inc. 2 CRUZ, INC Comparative Balance Sheets December 31, 2019 2019 2018 16.66 Doints $ 71,600 30,900 64,700 4,000 171,200 80,600 (12,500) $239, 300 $ 18,000 38,200 71,700 3,300 131,200 93,500 (2.000) $217,700 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, 55 par value Retained earnings Total liabilities and equity $ 11,300 6,800 1,100 19,200 22,800 42,000 $ 16,000 3,800 2,100 21,900 55,800 77,700 174,100 23,200 $239, 300 138,700 1,300 $ 217,700 2 CRUZ, INC. Incone Statement For Year Ended December 31, 2019 Sales $372,800 Cost of goods sold 239,900 Gross profit 132.900 Operating expenses Depreciation expense $ 28,780 Other expenses 68.100 96,300 Income before taxes 36,100 Income taxes expense 13,200 Net Income $ 22,900 16.66 points Required: Use the indirect method to prepare the operating activities section of the statement of cash flows. (Amounts to be indicated with a minus sign.) Cash flows from operating activities Adjustments to reconcile not income to operating cash flow Income statement items not affecting cash Changes in current operating assets and liabilities 2 Required: Use the indirect method to prepare the operating activities section of the statement of cash flows. (Amounts to be deducted shoule be indicated with a minus sign.) Cash flows from operating activities 16.66 noints Adjustments to reconcile net income to operating cash flow Income statement items not affecting cash Changes in current operating assets and liabilities $ 0 Fitz Company reports the following information 3 Selected Annual Income Statement Data Net income $382,000 Depreciation expense 49,200 Amortization expense 8,900 Gain on sale of plant assets 6,080 Selected Year-End Balance Sheet Data Accounts receivable decrease 5114,300 Inventory decrease 45,500 Prepaid expenses increase 4,900 Accounts payable decrease 9,900 Salaries payable increase 1,380 16.66 points Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ende (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Amortization expense Gain on sale of plant assets 8,900 6,080 Prepaid expenses increase Accounts payable decrease Salaries payable increase 4,900 9,900 1,300 3 Use the Indirect method to prepare the operating activities section of its statement of cash flows for the year en (Amounts to be deducted should be indicated with a minus sign.) 16.66 point Statement of Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities $ 0 SOV Use the following information of VPI Co. to prepare a statement of cash flows for the year ended December 31 using the indirect method (Amounts to be deducted should be indicated by a minus sign.) 4 Cash balance at prior year-end Increase in inventory Depreciation expense Cash received from Issuing stock Cash paid for dividends $42,800 7,800 6,800 10,800 3,000 Gain on sale of machinery Cash received from sale of machinery Increase in accounts payable Net income Decrease in accounts receivable $ 2,700 19,900 2,900 51,000 5,800 16.66 points VPECO. Statement of Cash Flows Indirect Method) For Current Year Ended December 31 Cash flows from operating activities Adjustments to reconcile net income to not cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities 4 VPICO. Statement of Cash Flows (Indirect Method) For Current Year Ended December 31 Cash flows from operating activities 16.66 points Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities S 0 Cash flows from Investing activities 0 Cash flows from financing activities 4 Changes in current operating assets and liabilities 16 66 points $ 0 Cash flows from investing activities 0 Cash flows from financing activities 0 S 0 0 5 Case A: Compute cash received for interest Interest revenue Interest receivable, beginning of year Interest receivable, end of year $11,000 $6,000 000 2.200 Case B: Compute cash paid for wages Wages expense Wages payable, beginning of year Hages payable, end of year 4,200 3,000 1666 points For each separate case, compute the required cash flow information for BioClean Case A Case B Cash received for interest Cash paid for wages 6 o. Equipment with a book value of $82,500 and an original cost of $170,000 was sold at a loss of $33,000 b. Paid $112.000 cash for a new truck c. Sold land costing $325.000 for $430,000 cash, yielding a gain of $105,000 d. Long-term investments in stock were sold for $92,800 cash yielding a gain of $16.250. Use the above information to determine cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.) 16 66 Doints Statement of Cash Flows (partial) Cash flows from investing activities $ Using the following income statement and additional year-end information 1 1 167 points $1,796,000 880,840 915,960 Spoed SOMAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $246,052 Depreciation expense 43, 164 Rent expense 48,492 Amortization expenses-Patents utilities expense Gain on sale of equipment Net income 5,383 19.756 362292 553,168 7.184 $ 560,352 Accounts receivable Inventory $26,950 Increase 13,100 Increase Accounts payable Salaries payable $ 8,325 decrease 4,300 decrease Prepare the operating activities section of the statement of cash flows using the direct method (Amounts to be deducted indicated with a minus sign.) Statement Chin Partial 1 1 Accounts receivable Inventory $26,950 Increase 13,100 Increase Accounts payable Salaries payable $ 8,325 decrease 4,308 decrease 167 points Prepare the operating activities section of the statement of cash flows using the direct method (Amounts to be deducted should be indicated with a minus sign.) Skloped Statement of Cash Flows Partial) Cash flows from operating activities 0 A comparative balance sheet and income statement is shown for Cruz, Inc. 2 CRUZ, INC Comparative Balance Sheets December 31, 2019 2019 2018 16.66 Doints $ 71,600 30,900 64,700 4,000 171,200 80,600 (12,500) $239, 300 $ 18,000 38,200 71,700 3,300 131,200 93,500 (2.000) $217,700 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, 55 par value Retained earnings Total liabilities and equity $ 11,300 6,800 1,100 19,200 22,800 42,000 $ 16,000 3,800 2,100 21,900 55,800 77,700 174,100 23,200 $239, 300 138,700 1,300 $ 217,700 2 CRUZ, INC. Incone Statement For Year Ended December 31, 2019 Sales $372,800 Cost of goods sold 239,900 Gross profit 132.900 Operating expenses Depreciation expense $ 28,780 Other expenses 68.100 96,300 Income before taxes 36,100 Income taxes expense 13,200 Net Income $ 22,900 16.66 points Required: Use the indirect method to prepare the operating activities section of the statement of cash flows. (Amounts to be indicated with a minus sign.) Cash flows from operating activities Adjustments to reconcile not income to operating cash flow Income statement items not affecting cash Changes in current operating assets and liabilities 2 Required: Use the indirect method to prepare the operating activities section of the statement of cash flows. (Amounts to be deducted shoule be indicated with a minus sign.) Cash flows from operating activities 16.66 noints Adjustments to reconcile net income to operating cash flow Income statement items not affecting cash Changes in current operating assets and liabilities $ 0 Fitz Company reports the following information 3 Selected Annual Income Statement Data Net income $382,000 Depreciation expense 49,200 Amortization expense 8,900 Gain on sale of plant assets 6,080 Selected Year-End Balance Sheet Data Accounts receivable decrease 5114,300 Inventory decrease 45,500 Prepaid expenses increase 4,900 Accounts payable decrease 9,900 Salaries payable increase 1,380 16.66 points Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ende (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Amortization expense Gain on sale of plant assets 8,900 6,080 Prepaid expenses increase Accounts payable decrease Salaries payable increase 4,900 9,900 1,300 3 Use the Indirect method to prepare the operating activities section of its statement of cash flows for the year en (Amounts to be deducted should be indicated with a minus sign.) 16.66 point Statement of Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities $ 0 SOV Use the following information of VPI Co. to prepare a statement of cash flows for the year ended December 31 using the indirect method (Amounts to be deducted should be indicated by a minus sign.) 4 Cash balance at prior year-end Increase in inventory Depreciation expense Cash received from Issuing stock Cash paid for dividends $42,800 7,800 6,800 10,800 3,000 Gain on sale of machinery Cash received from sale of machinery Increase in accounts payable Net income Decrease in accounts receivable $ 2,700 19,900 2,900 51,000 5,800 16.66 points VPECO. Statement of Cash Flows Indirect Method) For Current Year Ended December 31 Cash flows from operating activities Adjustments to reconcile net income to not cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities 4 VPICO. Statement of Cash Flows (Indirect Method) For Current Year Ended December 31 Cash flows from operating activities 16.66 points Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities S 0 Cash flows from Investing activities 0 Cash flows from financing activities 4 Changes in current operating assets and liabilities 16 66 points $ 0 Cash flows from investing activities 0 Cash flows from financing activities 0 S 0 0 5 Case A: Compute cash received for interest Interest revenue Interest receivable, beginning of year Interest receivable, end of year $11,000 $6,000 000 2.200 Case B: Compute cash paid for wages Wages expense Wages payable, beginning of year Hages payable, end of year 4,200 3,000 1666 points For each separate case, compute the required cash flow information for BioClean Case A Case B Cash received for interest Cash paid for wages 6 o. Equipment with a book value of $82,500 and an original cost of $170,000 was sold at a loss of $33,000 b. Paid $112.000 cash for a new truck c. Sold land costing $325.000 for $430,000 cash, yielding a gain of $105,000 d. Long-term investments in stock were sold for $92,800 cash yielding a gain of $16.250. Use the above information to determine cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.) 16 66 Doints Statement of Cash Flows (partial) Cash flows from investing activities $