Solve the full table with the data provided in the 3rd picture
The 2017 comparative balance sheet and income statement of Depot Supply Corp. follow. Depot had no non-cash investing and financing transactions during 2017. During the year, there were no sales of land or equipment, no issuance of notes payable, and no repurchase of shares transactions. E: (Click the icon to view the comparative balance sheet.) : (Click the icon to view the income statement.) Requirements 1. Prepare the 2017 statement of cash flows, formatting operating activities by using the indirect method. 2. How will what you learned in this problem help you evaluate an investment? Requirement 1. Prepare the 2017 statement of cash flows, formatting operating activities by using the indirect method. Start by completing the cash flows from operating activities. Then, continue with completing the investing and financing activities sections. Finally, determine the net increase in cash. (Use a minus sign or parentheses for subtracting numbers that are typically shown enclosed in parentheses in a statement of cash flows.) Depot Supply Corp. Statement of Cash Flows For the Year Ended December 31, 2017 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation $ Decrease in accounts recievable Decrease in inventories Increase in prepaid expenses Increase in accounts payable Decrease in salary payable Decrease in other accrued liabilities Net cash provided by operating activities Cash flows from investing activities: Purchase of land $ Purchase of equipment Net cash used for investing activities Cash flows from financing activities: Payment of dividends Payment of note payable Issuance of common shares Net cash used for financing activities This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers All parts showing Similar Question The 2017 comparative balance sheet and income statement of Depot Supply Corp. follow. Depot had no non-cash investing and financing transactions during 2017. During the year, there were no sales of land or equipment, no issuance of notes payable, and no repurchase of shares transactions. (Click the icon to view the comparative balance sheet.) E (Click the icon to view the income statement.) Requirements 1. Prepare the 2017 statement of cash flows, formatting operating activities by using the indirect method. 2. How will what you learned in this problem help you evaluate an investment? net cash provided by operating activities: Depreciation Decrease in accounts recievable Decrease in inventories Increase in prepaid expenses Increase in accounts payable Decrease in salary payable Decrease in other accrued liabilities Net cash provided by operating activities Cash flows from investing activities: Purchase of land $ Purchase of equipment Net cash used for investing activities Cash flows from financing activities: Payment of dividends Payment of note payable Issuance of common shares Net cash used for financing activities Net increase in cash Cash balance, December 31, 2016 Cash balance, December 31, 2017 Requirement 2. How will what you learned in this problem help you evaluate an investment? O A. Learn how operating activities, investing activities, and financing activities generate cash receipts and cash payments O B. Learn how companies prepare the statement of cash flows C. Both A and B OD. None of the above The 2017 comparative balance sheet and income statement of King Hardware Corp. follow. King had no non-cash investing and financing transactions during 2017. During the year, there were no sales of land or equipment, no issuance of notes payable, and no repurchase of shares transactions E: (Click the icon to view the comparative balance sheet.) : (Click the icon to view the income statement.) Requirements 1. Prepare the 2017 statement of cash flows, formatting operating activities by using the indirect method. 2. How will what you learned in this problem help you evaluate an investment? Comparative balance sheet i Income statement htheses in a statement of cash King Hardware Corp. Comparative Balance Sheet As at December 31, 2017 and 2016 December 31, 2017 2016 Increase (Decrease) $ 444,000 Requirement 1. Prepare the 2017 statement of cash flows, formatting operating activities by using the indir Start by completing the cash flows from operating activities. Then, continue with completing the investing ar flows.) King Hardware Corp. Statement of Cash Flows For the Year Ended December 31, 2017 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation Decrease in accounts recievable Decrease in inventories Current assets King Hardware Corp. Income Statement For the Year Ended December 31, 2017 Revenues: Sales revenue............ Expenses: Cost of goods sold ............. $ 185,200 Salary expense. ........... 76,100 Depreciation expense...... 3,800 Other operating expense .... 10,800 Interest expense.... ........ 24,800 $ Cash and cash equivalents Accounts receivable Inventories Prepaid expenses Property, plant, and equipment: Land 17,500 $ 41,700 83,500 2,300 5,500 $ 42,000 88,000 1,100 12,000 (300) (4,500) 1,200 Income tax expense Increase in prepaid expenses 89,600 60,500 53,500 49,300 288,100 $ 246,400 $ 29,100 4,200 41,700 Total expenses 330,000 $ 114,000 Increase in accounts payable Decrease in salary payable Net income Decrease in other accrued liabilities Net cash provided by operating activities Print Done 35,200 $ 2,300 22,900 33,900 $ 6,400 23,900 1,300 (4.100) (1,000) Equipment, net Total assets $ Current liabilities: Accounts payable ................. $ Salary payable Other accrued liabilities Long-term liabilities: Notes payable Shareholders' equity: Common shares Retained earnings ............... $ Total liabilities and shareholders' equity ........ 74,000 103.000 (29,000) 88,500 64,400 65,200 14,800 288,100 $ 246,400 $ 24,100 50,400 41,700 Print Done Enter any number in the edit fields and then click Check Answer. 4 parts 4 remaining Clear All Check Answer Check Answer
