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Suppose the income statement for Goggle Company reports $163 of net income, after deducting depreciation of $18. The company bought equipment costing $145 and obtained
Suppose the income statement for Goggle Company reports $163 of net income, after deducting depreciation of $18. The company bought equipment costing $145 and obtained a long-term bank loan for $148. The company's comparative balance sheet, at December 31, is presented here 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 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). (Select "NE" if there is no effect. Enter all amounts as positive values.) Change Previous Year 52 92 345 585 (28) 1046S Current Year 369 209 152 730 (46) 1,414 84 610 27 693 1,414 Type Cash Accounts Receivable Inventory Equipment Accumulated Depreciation-Equipment Total Salaries and Wages Payable Notes Payable (long-term) Common Stock Retained Earnings 27 $ 462 27 530 1,046 $ Total
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