Spike Corp balance sheet is below with the management narrative: - Net Income for the period was $12. - The company sold equipment for $13 that was originally purchased for $30. - The sold asset had accumulated depreciation of $13. - The company paid a cash dividend during the year and did not issue any bonds payable or receive a new longterm bank note or repurchase any of its own common stock. Required: - Construct, in good form, the company's Statement of Cash Flows for the period, using the indirect method. (15pts) PART B (1Opts) 2. Identify each cost as Variable (V) or Fixed (F) AND as Direct (D), Factory Overhead (OH) or Selling/Administrative Expense (SGA) for the furniture maker, Couch Potato, LLC. (I0 pts Total) Example: F__SGA_Salary of Chief Financial Officer Utility Fee based on units Manufactured Propane for heating glue machines Blades for Carpenter's Knives Advertising Fees Safety Gloves for Saw Operators Utilities for Sales Office Sales Commissions, per unit sold Couch seat cushions Production Supervisor Wages Salesman Annual Bonuses Warehouse Water Expense Unemployment Taxes for Painters Corporate jet lease Plywood for couches Carpenter's Wages Utilities - Headquarters Upholstery/Material coverings Depreciation - Factory Forklift Driver Hourly Rate Fumiture Painter's Wages Spike Corp balance sheet is below with the management narrative: - Net Income for the period was $12. - The company sold equipment for $13 that was originally purchased for $30. - The sold asset had accumulated depreciation of $13. - The company paid a cash dividend during the year and did not issue any bonds payable or receive a new longterm bank note or repurchase any of its own common stock. Required: - Construct, in good form, the company's Statement of Cash Flows for the period, using the indirect method. (15pts) PART B (1Opts) 2. Identify each cost as Variable (V) or Fixed (F) AND as Direct (D), Factory Overhead (OH) or Selling/Administrative Expense (SGA) for the furniture maker, Couch Potato, LLC. (I0 pts Total) Example: F__SGA_Salary of Chief Financial Officer Utility Fee based on units Manufactured Propane for heating glue machines Blades for Carpenter's Knives Advertising Fees Safety Gloves for Saw Operators Utilities for Sales Office Sales Commissions, per unit sold Couch seat cushions Production Supervisor Wages Salesman Annual Bonuses Warehouse Water Expense Unemployment Taxes for Painters Corporate jet lease Plywood for couches Carpenter's Wages Utilities - Headquarters Upholstery/Material coverings Depreciation - Factory Forklift Driver Hourly Rate Fumiture Painter's Wages
