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Test: Final Assessment This Question: 10 pts The 2016 and 2015 comparative balance sheets and 2016 income statement of Perfect Supply Corp follow EEB (Click the icon to view Perfect Supply had no noncash investing and financing transactions during 2016. During the year, there were no sales o Requirements 1. Prepare the 2016 statement of cash flows, formatting operating activities by using the indirect method. 2. How will what you leamed in this problem help you evaluate an investment? the comparative balance sheet) EB (Click the icon to view the income statement) Net income Adjustments to reconcile net income to net cash provided by operating activities Data 61.100 Depreciation Increase in accounts receivable Decrease in inventories ncrease in Increase in accounts payable Increase in salary payable Decrease in other accrued liabilities 17,400 4,200 (14,500) Current Ca Ac Inv Pre Plant as Lar Eq Total ass 7,300 8,900 1,300) 23,300 Net cash provided by (used for) operating activities 84,400 Cash flows from investing activities: Purchase of land (15,100) Purchase of equipment Net cash provided by (used for) investing activities (45400) Cash flows from financing activities: Current 21,000 Issuance of note payable Issuance of common stock Payment of dividends Acc Sal Oth Long-ten Not 24,500 Net cash provided by (used for) financing activities Net increase (decrease) in cash Cash balance, December 31, 2015 Cash balance, December 31, 2016 Con Reta Total liabi Choose from any list or enter any number in the input fields and then continue to the next question Save for Later