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Saved Suppose the income statement for Goggle Company reports $139 of net income, after deducting depreciation of $24. The company bought equipment costing $115 and
Saved Suppose the income statement for Goggle Company reports $139 of net income, after deducting depreciation of $24. The company bought equipment costing $115 and obtained a long-term bank loan for $124. The company's comparative balance sheet, at December 31, is presented here Recommendation: Click on the Hint link and watch the guided example for this question. It provides a helpful review of the process for preparing a statement of cash flows. Required: 1. Calculate the change in each balance sheet account and indicate whether each account relates to operating, investing, and/or financing activities (+ for increase and for decrease) 2. Prepare a statement of cash flows using the indirect method. 6. Are the cash flows typical of a start-up, healthy, or troubled company? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 6 Prepare a statement of cash flows using the Indirect method, (Amounts to be deducted should be indicated with a minus sion) GOGGLE COMPANY Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities Adjustments to Recondito Net Income to Net Cash Provided by Operating Activities Prev Ac Taw 9 or 10 !!! Next > JE GOGGLE COMPANY Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities: Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Changes in Current Assets and Current Liabilities 0 Cash Flows from Investing Activities: 0 Cash Flows from Financing Activities: 0 0 Pre 2262 Required 1 Required 2 Required Calculate the change in each balance sheet account and indicate whether each account relates to o financing activities (+ for increase and - for decrease). (Select "NE" If there is no effect. Enter all a values.) Previous Year Current Year Change 46 327 86 197 + 281 Cash 111 Operating 169 Operating 115 Investing 24 Operating 315 146 670 Cash Accounts Receivable Inventory Equipment Accumulated Depreciation-Equipment Total Salaries and Wages Payable Notes Payable (long-term) Common Stock Retained Earnings Total $ $ 555 (34) 968 $ 21 $ 456 21 (58) 1,282 72 580 + 51 Operating 124 Financing Financing 139 Operating 21 NE + 470 609 1,282 $ 968 $ RINK Required 2 >
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