Question 37 4.75 pts (New Problem - not a continuation of the prior problem) Statement of Cash Flows - four (4) questions Instructions: Please use the indirect method to prepare a Statement of Cash Flows on your scratch paper based on the following Income Statement, Balance Sheet, and Additional Information shown below to answer this question and the next three (3) questions: Question: Based on the Statement of Cash Flows you prepared on your scratch paper, what is the amount of the Operating cash flows? Income Statement December 31, 20xx Revenue 1,150,000 850,000 Cost of Goods Sold Gross Profit 300,000 40,000 Depreciation Expense Sales, General, and Admin. Expenses Operating Income 80,000 180,000 Gain on Sale of Equipment 40,000 Net Income 220,000 Balance Sheet December 31, 20xx Current Year Prior Year Change Assets Current Assets Cash 315,000 50,000 265,000 Accounts Receivable 160,842 150,000 10,842 275,000 300,000 (25,000) Inventory Long-term Assets Investment in Marketable Securities Total Assets 450,000 500,000 (50,000) 1,200,842 1,000,000 Liabilities and Stockholders' Equity Current Liabilities 210,000 (90,000) Accounts Payable Deferred Revenue 180,000 300,000 200,000 50,000 (20,000) 25,000 Interest Payable 75,000 Long-term Liabilities 190,842 40,842 Notes payable" Bonds Payable" 150,000 100,000 100,000 0 Stockholders' Equity 140,000 100,000 40,000 Stockholders' Equity Common Stock*** Retained Earnings *** Liabilities and Stockholders' Equity 305,000 100,000 205,000 1,200,842 1,000,000 * $50,000 of Marketable Securities were sold for cash. ** New $40,842 notes payable was signed in exchange for cash during the year and no change to bonds payable. ***New stock was issued during the year for cash in the amount of $40,000. ****Dividends paid during the year equaled $15,000. Question 38 4.75 pts Statement of Cash Flows Question: Based on the Statement of Cash Flows you prepared on your scratch paper, what is the amount of the Investing cash flow? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. For example, if you calculated the answer to be $24,123 you would only input: 24123 Webcourses will add commas to your answer. Question 39 4.75 pts Statement of Cash Flows Question: Based on the Statement of Cash Flows you prepared on your scratch paper, what is the amount of the Financing cash flows? Fill in the blank with your calculated number. DO NOT include commas. $ signs, period. decimal points, etc., just enter the raw number. For example, if you calculated the answer to be $24.123 you would only input: 24123 Webcourses will add commas to your answer. Question 40 4.75 pts Based on the Income Statement, Balance Sheet, and Additional Information shown below and the Statement of Cash Flows you prepared on your scratch paper, How much did the actual cash account change over this period? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. For example, if you calculated the answer to be $24,123 you would only input: 24123 Webcourses will add commas to your
