put together a Spreadsheet for Statement of Cash Flows for the same problem 16B-45B. Format the spreadsheet as shown in Exhibit 16B-1.

P16B-45B Using a spreadsheet to prepare the statement of cash flows-indirect method The 2018 comparative balance sheet and income statement of Attleboro Group, Inc. follow. Attleboro disposed of a plant asset at book value in 2018. ATTLEBORO GROUP, INC. Income Statement Year Ended December 31, 2018 $441,000 205,400 235,600 $ 76,300 15,300 49,600 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: Salaries Expense Depreciation Expense Other Operating Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Interest Revenue Interest Expense Total Other Income and (Expenses) Net Income Before Income Taxes Income Tax Expense Net Income 141,200 94,400 11,500 (24,400) (12,900) 81,500 16,200 $ 65,300 ATTLEBORO GROUP, INC. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 $ 14,000 42,000 96,800 $ 15,500 43,700 93,300 Assets Current Assets: Cash Accounts Receivable Merchandise Inventory Long-term Assets: Land Plant Assets Accumulated Depreciation-Plant Assets Total Assets 36,400 121,250 (20,350) $ 290,100 11,000 112,850 (18,650) $ 257,700 Liabilities $ 24,500 23,900 $ 26,000 22,600 Current Liabilities: Accounts Payable Accrued Liabilities Long-term Liabilities: Notes Payable Total Liabilities 56,000 104,400 69,000 117,600 Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 129,500 56,200 185,700 $ 290,100 121,000 19,100 140,100 $257,700 Prepare the spreadsheet for the 2018 statement of cash flows. Format cash flows from operating activities by the indirect method. A plant asset was disposed of for $0. The cost and accumulated depreciation of the disposed asset was $13,600. There were no sales of land, no retirement of common stock, and no treasury stock transactions. Assume plant asset and land acquisitions were for cash. Cash Pmt. of Div. $28,200 | Cash Pmt. of N/P $13,000 Exhibit 16B-1 Spreadsheet for Statement of Cash Flows-Indirect Method SHOPMART, INC. Spreadsheet for Statement of Cash Flows Year Ended December 31, 2018 Panel A-Balance Sheet: 7 Cash 8 Accounts Receivable 9 Merchandise Inventory 10 Plant Assets 11 Accumulated Depreciation-Plant Assets 12 Total Assets Balance 12/31/2017 $ 42,000 73,000 (d) 145,000 252,000 () (42,000) () S 470,000 Transaction Analysis DEBIT CREDIT 20,000 (n) 17.000 2,000 (e) 310,000 55.000 15,000 20,000 (6) Balance 12/31/2018 $ 22,000 90,000 143,000 507.000 (47,000) 5 715,000 40,000 ( 14 Accounts Payable 15 Accured Liabilities 16 Notes Payable 17 Total Liabilities 50,000 10,000 (g) 80,000 140,000 5,000 10,000 90,000 90,000 5,000 160,000 255,000 18 120,000 40,000 ) (a) 19 Common Stock, no par 20 Retained Earnings 21 Treasury Stock 22 Total Liabilities and Stockholders' Equity 250,000 80,000 (m) 06 S 470,000 10,000 20,000 $ 387,000 370,000 110,000 (20.000) 5 715,000 $387,000 40,000 20.000 10,000 (c) 17,000 (d) 2,000 40.000 ( 5.000 (9) Panel B-Statement of Cash Flows: 25 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities Depreciation Expense-Plant Assets Gain on Disposal of Plant Assets Increase in Accounts Receivable Decrease in Merchandise Inventory Increase in Accounts Payable Decrease in Accrued Liabilities 34 Net Cash Provided by Operating Activities 35 Cash Flows from Investing Activities: 36 Cash Payment for Acquisition of Plant Assets 37 Cash Receipt from Disposal of Plant Assets 38 Net Cash Used for Investing Activities 39 Cash Flows from Financing Activities: 40 Cash Receipt from Issuance of Notes Payable 41 Cash Payment of Notes Payable Cash Receipt from Issuance of Common Stock Cash Payment for Purchase of Treasury Stock Cash Payment of Dividends 45 Net Cash Provided by Financing Activities 46 Net Increase (Decrease) in Cash 47 Total 310,000 ) (c) 50.000 90,000 10,000 (k) 120.000 20,000 10,000 (m) (n) 20,000 $ 382,000 $382.000