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please print clearly. thank you! I have included all available options on the drop down menu Tranquility Company, Inc. Comparative Balance Sheets March 31, 2017
please print clearly. thank you! I have included all available options on the drop down menu
Tranquility Company, Inc. Comparative Balance Sheets March 31, 2017 and 2016 2017 2016 Increase Decrease) Assets Current assets Cash $ Accounts receivable Inventory 56,000 $ 52.000 65,500 3,600 14,400 $ 53,000 60,000 5,700 133,100 41,600 (1,000) 5,500 (2,100) Selected transaction data for the year ended March 31, 2017, include the following a Net income $ 77,300 b. Paid long term note payable with cash $ 60,300 Cash payments to employees $ 2.000 d Loss on sale of land $ 9.500 e. Acquired equipment by issuing long-term note payable 14,600 f. Cash payments to suppliers $ 146,500 9. Cash paid for interest $ 4200 h Depreciation expense on equipment $ 14.000 Paid short-term note payable by issuing common stock $ 5,400 Paid cash dividends $ 45200 k Received cash for issuance of common stock $ 2,300 Cash received from customers $ 299,000 m Cash paid for income taxes $ 11,900 n. Sold land for cash $ 51,000 o. Interest received in cash) 1.800 p Purchased long-term investment for cash 2,400 Prepaid insurance Total current assets 177,100 60.500) Land Equipment, net 35.000 95,500 71,100 70,500 9.2006800 282.400 $ 305,900 Investments $ Total assets Liabilities $ Liabilities Current liabilities: Accounts payable Note payable, short-term Income tax payable Salary payable Interest payable 4,800 $ 43,400 14,000 9,800 8,200 3,400 3,700 48,800 $ 15,100 12,300 7,600 3,700 1,100 (5,400) (1,100) (2,500) 600 (300) Accrued liabilities Total current liabilities 83,600 91,200 48,100 93,800 (45,700) Long-term liabilities Total liabilities 131,700 185,000 Stockholders' equity Common stock 69,400 61,700 91,300 59,200 160,700 $ 120,900 7,700 32,100 Retained earnings Total stockholders' equity $ Total liabilities and equity $ 292,400 $ 305,900 Print Done Travely Company, Inc o bong co ve balance sheets of March 31, 2017 Requirements s p redoming actions 2. Also presentary schoof cash boom op de method dec method for ting how include a who of noncash investing and range of concours Requirement 1. peretetement of cash flows for any com e for ended March 31 2017. co sobre p ompting transactions Prepare the statement one section time the pr es ram o fornumbers to be suced Tranquility company, Inc Statement of Cash Flows indirect Method For the Year Ended March 31, 2017 Requirement 1. Prepare the statement of cash flows for Tranquility Company, Inc., for the year ended March 31, 2017 using transactions Prepare the statement one section at a time. (Use parentheses or a minus sign for numbers to be subtracted.) Tranquility Company, Inc. Statement of Cash Flows (Indirect Method) For the Year Ended March 31, 2017 Operating Activities: Adjustments to reconcile net income to cash basis: Net cash provided by (used for) operating activities Choose from any list or enter any number in the input fields and then continue to the next question untu t Muruj For the Year Ended March 31, 2017 Operating Activities: Depreciation expense Issuance of common stock Loss on sale of land Net income Payment of cash dividends Payment of long-term note payable Proceeds on sale of land Purchase of equipment Purchase of equipment by issuing long-term note payable Purchase of long-term investment Retirement of short-term note payable by issuing common stock Net cash provided by (used for) operating activities Choose from any list or enter any number in the input fields and then continue to the next question Adjustments to reconcile net income to cash basis: Depreciation expense Issuance of common stock Loss on sale of land Net income Payment of cash dividends Payment of long-term note payable Proceeds on sale of land Purchase of equipment Purchase of equipment by issuing long-term note payable Purchase of long-term investment Retirement of short-term note payable by issuing common stock Choose from any list or enter any number in the input fields and then continue to the next question Investing Activities: Net cash provided by (used for) investing activities Financing Activities: Net cash provided by (used for) financing activities Net increase (decrease) in cash Cash, beginning of the year Cash, end of the year (Click the icon to view the comparative balance sheets. (Click the icon to view the trans! Requirements 1. Prepare the statement of cash flows for Tranquility Company, Inc., for the year ended March 31, 20 from operating transactions, Also prepare a supplementary schedule of cash flows from operations using the direct method. Investing Activities: Depreciation expense Issuance of common stock Loss on sale of land Net income Payment of cash dividends Payment of long-term note payable Proceeds on sale of land Purchase of equipment Purchase of equipment by issuing long-term note payable Purchase of long-term investment Retirement of short-term note payable by issuing common stock Cash, end of the year Net cash provided by (used for) investing activities Financing Activities: Depreciation expense Issuance of common stock Loss on sale of land Net income Payment of cash dividends Payment of long-term note payable Proceeds on sale of land Purchase of equipment Purchase of equipment by issuing long-term note payable Purchase of long-term investment Retirement of short-term note payable by issuing common stock Schedule of Disclosures Noncash investing and financing activities: Total noncash investing and financing activities Requirement 2. Also prepare a supplementary schedule of cash flows from operations using the direct method. (Use parentheses or a minu Tranquility Company, Inc. Statement of Cash Flows-Operating Activities Section (Direct Method) For the Year Ended March 31, 2017 Operating Activities: Net cash provided by (used for) operating activities Choose from any list or enter any number in the input fields and then continue to the next question, Schedule of Disclosures Noncash investing and financing activities: ons using Depreciation expense Issuance common stock Rt Loss on sale of land Net income Payment of cash dividends Payment of long-term note payable Proceeds on sale of land Purchase of equipment Purchase of equipment by issuing long-term note payable Purchase of long-term investment Retirement of short-term note payable by issuing common stock Method) Lasni, beying or the year Cash payments for income taxes Cash payments for interest Cash payments to employees for salaries and wages Cash payments to suppliers Cash receipts from customers Cash receipts from interest Depreciation expense Issuance of common stock Re Loss on sale of land Payment of cash dividends Payment of long-term note payable Proceeds from sale of land Purchase of equipment by issuing long-term note payable Purchase of long-term investment from operations ion (Direct Metho Step by Step Solution
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