Sales 2018 Income Statment Balance Sheets $455,000 Cost of Goods Sold (221,500) Operating Expenses, other than Depreciation Expense (60,600) Depreciation Expense (20,000) Gain on Sale of Plant Assets 23,500 Net Income $176,400 Dec. 31,2018 Cash $327,450 Accounts Receivable Inventory Accounts Payable Accured Liabilities 39,750 30,000 17,550 3,500 Dec. 31, 2017 Cash Accounts Receivable Inventory Accounts Payable Accured Liabilities Additional Information: Plant assets were sold for $45,000; book value $16,500 Dividends of $25,000 were declared and paid Check My Work $133,500 36,500 35,000 19,550 2,200 Previous Next Additional Information: Plant assets were sold for $45,000; book value $16,500 Dividends of $25,000 were declared and paid Prepare a statement of cash flows (direct method) for the year 2018. Use the minus sign to indicate cash out flows, a decrease in cash or cash payments. Victrolia Company Statement of Cash Flows (Direct Method) For the Year Ended December 31, 2018 Cash Flow from Operating Activities: Cash Collected from Customers Cash Payments: To Suppliers of Inventory To Vendors for Operating Expenses Net cash flows from operating activities Cash Flow from Investing Activities: Proceeds from Sale of Plant Assets Net Cash Flow from Investing Activities Cash Flow from Financing Activities: Proceeds from Sale of Plant Assets Net Cash Flow from Financing Activities Total Cash Flow Increase Cash Balance, December 31, 2017 Cash Balance, December 31, 2018 0 0 0000 Check My Work Previous Next >