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Solution are attached, I just wanna know how to do math, show calculations for these numbers. CLARK COMPANY: Income Statement for Year Ended December 31,

Solution are attached, I just wanna know how to do math, show calculations for these numbers.image text in transcribedimage text in transcribedCLARK COMPANY: Income Statement for Year Ended December 31, 2019

Sales revenue

$ 1,200

Cost of goods sold

(300)

Insurance expense

(30)

Bad debt expense

(30)

Wages expense

(80)

Stock based compensation

(40)

Depreciation expense

(50)

Patent amortization expense

(20)

Interest expense

(50)

Loss on sale of land

(10)

Gain on sale of building

30

Impairment loss on land

(20)

Gain on bond retirement

10

Equity method investment income

70

Restructuring expense

(100)

Income tax expense

(140)

Net income

$ 440

CLARK COMPANY: Balance Sheets for December 31, 2018 and 2019

Current Assets

12-31-19

12-31-18

Cash and cash equivalents

$ 160

$ 110

Accounts receivable

340

310

Allowance for uncollectible accounts

(70)

(40)

Marketable securities

150

110

Inventory

190

170

Prepaid insurance

50

60

Non-Current Assets

Land

180

140

Buildings

330

370

Accumulated depreciation buildings

(110)

(100)

Equipment

230

170

Accumulated depreciation equipment

(70)

(50)

Patents net of accumulated amortization

140

100

Equity method investment

110

0

Total Assets

$ 1,630

$ 1,350

Current Liabilities

Accounts payable

$60

$30

Wages payable

30

20

Interest payable

20

40

Income tax payable

20

60

Non-Current Liabilities

Restructuring Liability

70

0

Bonds payable

200

330

Deferred income taxes

140

110

Shareholders Equity

Preferred stock (par)

130

0

Common stock (par)

300

270

Additional paid in capital - common stock

800

600

Treasury common stock

(270)

(210)

Retained earnings

130

100

Total Liabilities and Shareholders Equity

$1,630

$ 1,350

ADDITIONAL DATA FOR 2019

  • Purchased marketable securities. Regarding marketable securities at the beginning of the year, none were sold and their market value did not change during the year.
  • Sold for cash some land that had cost $50. Also purchased other land that was judged to be impaired at year end.
  • Sold for cash a building that had cost $70 and had a book value of $50. Also purchased a building.
  • Purchased equipment for cash. Did not sell any equipment.
  • Did not sell any patents. Obtained a patent in exchange for preferred stock valued at par.
  • Made an equity method investment at the very beginning of the year. Received dividends on the equity method investment of $40 during the year.
  • Created long-term restructuring plan. Reduced restructuring liability by paying severance packages.
  • Bonds payable of $130 were retired by paying cash. No bonds were issued.
  • Deferred income taxes pertain to operations.
  • In addition to issuing preferred stock at par for a patent, sold preferred stock for cash at par.
  • Issued common stock for cash.
  • Declared and paid cash dividends.
  • Purchased treasury common stock. This was the only transaction concerning treasury shares.

Using the information provided, generate the Clark Company 2019 Statement of Cash Flows using the indirect method.

OPERATING ACTIVITIES

INVESTING ACTIVITIES

FINANCING ACTIVITIES

the Clark Company 2019 Statement of Cash Flows in the indirected 40 (30) Using the information provided OPERATING ACTIVITIES Net Income 440 -Band Debt Expense - Stoch Based Compensation - Depreciation Expense + Patest Amortization Experst + lose on sall of fond - Gain on sale of building + hapaniment lors on fond zo - Gain on Bond Retirement (10) -- Equity Method lavestmest hicone (70) + indend lacewelon Equt no - Method wastuet + Restructuring Expense , -Severone Pochoges paid (30) & sucrose in Seferred accome Toce 30 -secreool in Imome Toke Payable (40) - Increase in Accounts receivable (3 of toploy (20) Dlerral v Arepare Orecke 10 Prestal w for Nasset 30 - Incroad in Woges Ramble 10 - Doerant in Interest Aagalle (201 INVESTING ACTIVITIES + Sale of fond - Purchase of fond + Sale of Buikel -Aurdare of huilding - made Equity method wetment -Aurchased Mastetoele Sorentic -Purchrosed Equipment 40 (110) 80 (30) (80) (401 (60) (200) FINANCING ACTIVITIES + Sold Arglenel Stad - Retired Bond + sold Comman stoch - Bought tresury stoch - paid wided 70 (120) /90 (60) (410) (330) the Clark Company 2019 Statement of Cash Flows in the indirected 40 (30) Using the information provided OPERATING ACTIVITIES Net Income 440 -Band Debt Expense - Stoch Based Compensation - Depreciation Expense + Patest Amortization Experst + lose on sall of fond - Gain on sale of building + hapaniment lors on fond zo - Gain on Bond Retirement (10) -- Equity Method lavestmest hicone (70) + indend lacewelon Equt no - Method wastuet + Restructuring Expense , -Severone Pochoges paid (30) & sucrose in Seferred accome Toce 30 -secreool in Imome Toke Payable (40) - Increase in Accounts receivable (3 of toploy (20) Dlerral v Arepare Orecke 10 Prestal w for Nasset 30 - Incroad in Woges Ramble 10 - Doerant in Interest Aagalle (201 INVESTING ACTIVITIES + Sale of fond - Purchase of fond + Sale of Buikel -Aurdare of huilding - made Equity method wetment -Aurchased Mastetoele Sorentic -Purchrosed Equipment 40 (110) 80 (30) (80) (401 (60) (200) FINANCING ACTIVITIES + Sold Arglenel Stad - Retired Bond + sold Comman stoch - Bought tresury stoch - paid wided 70 (120) /90 (60) (410) (330)

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