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Please prepare cash flow statement and show all work. Presented below are the 2018 income statement and comparative balance sheets for Santana Industries. SANTANA INDUSTRIES
Please prepare cash flow statement and show all work. Presented below are the 2018 income statement and comparative balance sheets for Santana Industries. SANTANA INDUSTRIES Income Statement For the Year Ended December 31, 2018 ($ in thousands) $ 16,050 5,200 Sales revenue Service revenue Total revenue $21,250 Operating expenses: Cost of goods sold 8,100 3,300 2,480 Selling General and administrative Total operating expenses Operating income Interest expense Income before income taxes Income tax expense 13.800 7,450 290 7,160 3,400 $ 3,760 Net income Dec. 31, Dec. 31, 2018 2017 Balance Sheet Information ($ in thousands) Assets: Cash $ 8,250 4,300 S,800 240 $3,010 3,100 3,900 Accounts receivable Inventory Prepaid rent Plant and equipment Less: Accumulated depreciation 480 16,300 (6,000) 13,800 (5,400) $28,890 $18,890 Total assets Liabilities and Shareholders' Equity: Accounts payable Interest payable Deferred service revenue Income taxes payable Loan payable (due 12/31/2020) Conmon stock Retained earnings Total liabilities and shareholders' equity $ 3,200 $ 2,000 190 690 980 980 640 6,800 10,900 10,900 4, 320 6,180 $28,890 $18,890 Novt Additional information for the 2018 fiscal year ($ in thousands): 1 Cash dividends of $1,900 were declared and paid 2. Equipment costing $5,800 was purchased with cash 3. Equipment with a book value of $1,400 (cost of $3,300 less accumulated depreciation of $1,900) was sold for $1,400 4. Depreciation of $2,500 is included in operating expenses Required: Prepare Santana Industries' 2018 statement of cash flows, using the indirect method to present cash flows from operating activities (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) Next>
Please prepare cash flow statement and show all work.
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