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Prepare the 2018 statement of cash flows, formatting operating activities by the indirect method. (Use a minus sign or parentheses for amounts that result in
Prepare the 2018 statement of cash flows, formatting operating activities by the indirect method. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.) What is the : Cash Payment for Acquisition of Plant Assets, Cash Payment of dividends, Cash Payment of Notes Payable, Cash Receipt from Issuance of Common Stock, Net Increase(decrease) in Cash?
Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities: 96,500 Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Depreciation Expense Plant Assets 14,000 (1,800) Increase in Accounts Receivable Decrease in Merchandise Inventory 12,800 Increase in Accounts Payable 4,900 Decrease in Accrued Liabilities (2,400) 27,500 124,000 Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Cash Payment for Acquisition of Plant Assets Get Wired, Inc. Income Statement Year Ended December 31, 2018 $435,000 Net Sales Revenue 205,200 Cost of Goods Sold 229,800 Gross Profit Operating Expenses: Salaries Expense $ 76,400 Depreciation Expense Plant Assets 14,000 10,100 Other Operating Expenses 100,500 Total Operating Expenses Operating Income 129,300 Other Income and (Expenses) Interest Revenue 8,000 21 600 (13,600) Total Other Income and (Expenses) Net Income Before Income Taxes 115,700 19,200 Income Tax Expense $ 96,500 Net Income Get Wired, Inc. Comparative Balance Sheet Liabilities December 31, 2018 and 2017 Current Liabilities: 2018 2017 Accounts Payable $ 35,200 $ 30,300 Assets 28,400 Accrued Liabilities 30,800 Current Assets 15,300 Long-term Liabilities: $ 26,200 $ Cash 102,000 75,000 Notes Payable 25,000 Accounts Receivable 26,800 163,100 91,800 Total Liabilities 138,600 Merchandise Inventory 79,000 Stockholders' Equity Long-term Assets: 88,500 11,000 Common Stock, no par 64,900 34,900 Land 43,700 6,800 Plant Assets 121,240 106,380 Retained Earnings (14,680) Total Stockholders' Equity (17,340) 132,200 71,700 Accumulated Depreciation-Plant Assets $ 270,800$ 270,800 $ 234,800 Total I iabilities and Stockholders' Equity 234,800 Total Assets
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