Question 5 of 6 View Polides Current Attempt in Progress Laramie's Pasta has the following financial statements Laramie's Pasta Balance Sheets As of December 31, 2019 and 2020 2020 2019 Assets Cash $262.161 5254630 Accounts receivable 122.990 120.450 92.169 102.792 Inventory Prepaid expenses 16.239 171455 33.533 $8.338 Plant and equipment Accumubted depreciation 114.6681 11 Total assets $734424 5694497 5252.742 5259.776 Liabilities and Equity Accounts payable Accrued wages Long-term notes payable 30.334 26733 157958 150.653 Common stock SE540 360 232.160 161490 Retained earnings Totalities and equity $734,424 $694497 Laramie's Pasta Income Statement For the Year Ended December 31, 2020 21.00 Sales 5 116410 256930 Les Cost of goods sold Grossman Le operating te Wipes and responde Advert 516400 1340 127430 Deprecatione 3.000 1200 Trincos 5 550 Arthed of 2000.phodditionale din 55.770 during the ye Prepare a statement of cash flows for 2020 using the direct method. Assume that advertising is paid in cashi (Show amounts in th Investing and financing sections that decrease cash flow with either o- signes, 15.000 or in parenthesis eg (15,0001) Laramie's Pasta Statement of Cash Flow Direct Method December 31, 2020 For the Month Ended December 31, 2020 For the Year Ended December 31, 2020 Prepare a statement of cash flows for 2020 using the direct method Assume that advertising is paid in cash (Show amounts in the Investing and financing sections that decrease cash flow with either a-signes -15,000 or in parenthesis ex (15,0001) Laramie's Pasta Statement of Cash Flows-Direct Method Cash - Beginning of 2020 Cash - End of 2020 Cash flows from operating activities Net cash provided by operating activities Net decrease in cash Net Increase in cash Cash flows from investing activities Net cash used in financing activities Cash flows from financing activities Net cash provided by investing activities Net cash provided by financing activities Net cash used in investing activities Net cash used in operating activities > difference between the two methods for the investing and financing sections. (Enter amounts that decrease cash flow elther with a negative sign preceding the number, e.g. -15,000 or parenthesis es. (15,000).) * 15.000 or parenthesis 43 1. Laramie's Pasta Partial Statement of Cach Flows-Indirect Method December 31, 2020 For the Month Ended December 31, 2020 For the Year Ended December 31, 2020 Operating activities NA Textbook and Media Prepare the operating activities section of the statement of cash flows for 2020 using the indirect method. Note that there is no difference between the two methods for the investing and financing sections. (Enter amounts that decrease cash flow elther with a negative sign preceding the number, e.g. - 15,000 or parenthesis eg. (15,000).) aramie's Pasta of Cash Flows-Indirect Method Payments for advertising Adjustments of net income to cash basis Increase in accrued wages Payments for wages Decrease in accounts payable Payments for misc. operating expenses Payments of dividends Cash received from customers Decrease in accounts recevable Increase in accounts receivable Dividends received Net Income Payments for prepaid expenses Purchase of equipment Increase in accounts payable Payments to suppliers of inventory Net cash used in operating activities Decrease in prepald expenses Depreciation Expense Net cash provided by operating activities Decrease in accrued wages Increase in prepaid expenses Sale of equipment Increase in inventory Decrease in Inventory Payments on long-term notes Attempts: 0 of 3 used Submit
