Statement of Cash Flows 2 Required: Use the financial statements and other information provided below to prepare a statement of cash flows for Peoria Inc. 3 for fiscal year 2028. Use the DIRECT method. 4 5 6 7 Peoria Inc Comparative Balance Sheets December 31, 2028 and 2027 Peoria Inc Income Statement For the year ended December 31, 2028 9 December 31 2028 2027 Sales cost of Goods Sold Gross Margin Depreciation Expense Other Operating Expenses Income from Operations Other Income (Expenses): Interest Expense Income before Income Taxes Income Taxes Expense Net Income 700,000 550,000 50,000 100,000 400,000 52,000 90,000 180,000 130,000 230,000 200,000 15,000 25,000 750,000 600,000 700,000 500,000 (250,000) (200,000) 25,000 375,000 150.000 225,000 10 11 Assets 12 Cash 13 Accounts Receivable (net) 14 Merchandise Inventory 15 Prepaid Insurance 16 Land 17 Equipment 18 Accum. Depr 19 Totals 20 21 Liabilities & Stockholders' Equity 22 Accounts Payable 23 Wages Payable 24 Income Taxes Payable 25 Lone-term Note Payable 26 Common Stock 27 Retained Earnings 28 Totals 29 BO 130,000 68,000 90,000 350,000 550,000 489,000 148,000 63,000 110,000 300,000 400,000 324,000 Additional information: A Cash paid for income taxes B. Cash paid to purchase land c. Cash received from issuing stock D. Issued mortgage for land and building E. Cash paid for interest F. Cash received from customers GCash received from long-term borrowing H. Cash dividends paid Cash paid to purchase equipment 1 Cash paid for merchandise Inventory K Cash paid for other operating expenses 170,000 150,000 150,000 200,000 25,000 50,000 60.000 200.000 748,000 85.000 32 39 35 36 Score Summary Information Stmt of Cash Flows Reconcilation wor D B 1 Use the template below to prepare the statement of cash flows for Peoria Inc. for 2028. (Use the template on the "Reconcilation worksheet" tab to calculate/document the items for the 2 Reconcilation.) Hint: Cells with blue shading are for section heading labels and cells with yellow shading are for 3 section total labels or other line labels. 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 1 Reconciliation Worksheet Note: Enter all amounts in this Worksheet as POSITIVE numbers. (Use the 2 absolute value for all amounts in this Worksheet.) 3 ADD Non-Cash Expenses 4 5 6 7 ADD Losses and DEDUCT Gains 8 9 10 11 Adjust for accruals -- Non-Cash, Current, Operating Assets & Liabilities Change Increase Ending Beginning in or 12 Account Balance Balance Balance Decrease 13 14 15 16 1 Assets 17 18 19 20 21 22 23 Liabilities 24 25 26 27