Printem Ose the following excerpts from Zowleski Company's financial Information Dec 31, 2018 Cash Accounts Receivable Dec 31, 2017 $85,000 22,900 131,000 Merchandise Inventory $93,300 22,000 139,000 180,000 (25,000) $409,300 Plant Assets 150,000 (21,000) Accumulated Depreciation Total Assets $367.900 Accounts Payable Notes Payable Common Stock Retained Earnings $18,500 135,500 20,000 $21,000 120,000 20,000 206,900 $357,900 235,300 Total Lisbilities and Equity $409,200 Additional Information: Test Income for 2018 $28.400 Depredation Expense for 2018 Accumulated Depreciation Increase) 4.000 Pant Assets Purchased (Pantsets Increase Finance by Note 30,000 stes Payable Increased by Amount of an Assets Purchase 30,000 Hits Payable Decreased by Amount of Principal Note Payments 14.500 are a statement of cash flows indirect method for the year 2018. Use the mission to indicate cash outflows a decrease in cash or cash payme Zoweski Company Statement of Cash Flows Indirect Method) For the Year Ended December 31, 2018 Chow trum Opering Adjustments and come to the low from 200.400 4.600 900 1000 2.500 600 1. 31.00 4,000 Additional Information: $28,400 Net Income for 2018 Depreciation Expense for 2018 (Accumulated Depreciation Increase) Plant Assets Purchased (Plant Assets Increase), Hoance by Note 30,000 Notes Payable Increased by Amount of lant Assets Purchase 30,000 Notes Payable Decreased by Amount of Principal Note Payments 14,500 Prepare a statement of cash flows (indirect method) for the year 2018. Use the minus sign to indicate cash outflows, a decrease in cash or Zowleski Company Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2018 Cash Flow frem Operating Activities Net Income 28.400 Adjustments to Reconcile et Income to Net Cash Flow from Operating Activities: Depreciation 4.000 Accounts Receivable Change Merchandise Inventory Change 9007 Accounts Payable change -3.000 -2.500 -5.600 22.500 Net Cash Flow from Operating Activities Cash Flow from Finanding Active Payment of Notes Payable Net Cash Flow from Finding Activities Total Cash Flow Increase Case, Dec 31, 2017 31000X Gece31. 2018 og deding Active in Exchange for Notes Payable wering section of the statement of cash to in the Indirect method involve adjustments to cancel out any non cash wat involve show do you do ta remove at non-cash fact? Remember that adjustments for cha in the cameras the dangere period to the next as long and acts involve activities related to the common securities and to the watches but do not actually not ash flow. We there are still
