Requirement 1: prepare the 2018 statement of cash flows, formatting operation activities by the indirect method

Grand Tree, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue Cost of Goods Sold Gross Profit $ 74,400 14,000 10,700 Operating Expenses: Salaries Expense Depreciation ExpensePlant Assets Other Operating Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Interest Revenue 8,300 (21,000) Interest Expense Cost of Goods Sold Gross Profit 243,800 $ 74,400 14,000 10,700 Operating Expenses: Salaries Expense Depreciation Expense Plant Assets Other Operating Expenses Total Operating Expenses Operating Income Other Income and (Expenses) Interest Revenue 99,100 144,700 8,300 (21,000) Interest Expense (12,700) Total Other Income and (Expenses) Net Income Before Income Taxes 132,000 19,900 Income Tax Expense $ 112,100 Net Income 2018 2017 Assets Current Assets Cash $ 15,100 26,700 $ 26,300 79,500 25,500 91,200 Accounts Receivable Merchandise Inventory Long-term Assets Land 34,400 118, 110 (22,210) 12,000 117,480 (19,780) Plant Assets Accumulated Depreciation Plant Assets $ 262,800 $ 241,500 Total Assets Liabilities $ 30,200 35,300 $ 28,600 30,500 Current Liabilities: Accounts Payable Accrued Liabilities Long-term Liabilities: Notes Payable Total Liabilities 72,000 102,000 135,900 162.700 Stockholders' Equity Common Stock, no par 88,300 38,600 64,300 14,500 Retained Earnings Total Stockholders' Equity 126,900 78,800 $ 262,800 $ 241,500 Total Liabilities and Stockholders' Equity i Requirements 1. Prepare the 2018 statement of cash flows, formatting operating activities by the indirect method. 2. How will what you learned in this problem help you evaluate an investment? Print Done Grand Tree, Inc. Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Depreciation Expense-Plant Assets Increase in Accounts Receivable Decrease in Merchandise Inventory Increase in Accounts Payable Decrease in Accrued Liabilities Net Cash Provided by (Used for) Operating Activities