Question 1 Q:16

The comparative balance sheet of Johnson Educational Supply at December 31,2024 , reported the following: (Click the icon to view the comparative balance sheet.) Johnson's transactions during 2024 included the following: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Prepare the statement of cash flows of Johnson Educational Supply for the year ended December 31, 2024. Use the indirect method to report cash flows from operating activities. (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.) Complete the statement one section at a time, beginning with the cash flows from operating activities. Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash Cash Balance, December 31, 2023 Cash Balance, December 31, 2024 Requirement 2. Evaluate Johnson's cash flows for the year. Mention all three categories of cash flows, and give the reason for your evaluation. Complete the following statements to evaluate Johnson's cash flows. Operations are cash. The company is plant assets. There is more financing by than by Cash during the year. For the reasons given above, Johnson's cash flows look Requirement 3. If Johnson plans similar activity for 2025 , what is its expected free cash flow? (Use a minus sign or parentheses for amounts that result in a decrease in cash. Abbreviations used: Cash pmts for planned invest. = Cash payments for planned investments ir long-term assets; NCOA = Net cash provided by operating activities; NCFA = Net cash provided by financing activities.) Select the labels and enter the amounts to calculate Johnson's expected free cash flow for 2025. Data table Data table Requirements 1. Prepare the statement of cash flows of Johnson Educational Supply for the year ended December 31, 2024. Use the indirect method to report cash flows from operating activities. 2. Evaluate Johnson's cash flows for the year. Mention all three categories of cash flows, and give the reason for your evaluation. 3. If Johnson plans similar activity for 2025 , what is its expected free cash flow