Suppose the income statement for Goggle Company reports $95 of net income, after deducting depreciation of $35. The company bought equipment costing $60 and obtained a long-term bank loan for $70. 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.) Previous Year Current Year Change Cash $ 35 $ 240 Accounts Receivable 75 175 Inventory + 260 135 Equipment 500 560 Accumulated Depreciation-Equipment (45) (80) Total $ 825 $ 1,030 Salaries and Wages Payable $ 10 $ 50 Notes Payable (long-term) 445 515 Common Stock 10 10 Retainer Faminne n ASST Type Check m % ult 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.) Previous Year Current Year Change Cash $ 35 $ 240 Accounts Receivable 75 175 Inventory 260 135 + Equipment 500 560 Accumulated Depreciation-Equipment (45) (80) Total $ 825 $ 1,030 Salaries and Wages Payable $ 10 $ 50 Notes Payable (long-term) 445 515 Common Stock 10 10 Retained Earnings Total 360 455 $ 825 $ 1,030 Check 0.64 1 points eBook Hint GOGGLE COMPANY Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities: Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Changes in Current Assets and Current Liabilities Print Cash Flows from Investing Activities: References Mc Graw Hill Cash Flows from Financing Activities: Required 1 Required & Prev 1 of 7 Next > Suppose the income statement for Goggle Company reports $95 of net income, after deducting depreciation of $35. Th bought equipment costing $60 and obtained a long-term bank loan for $70. The company's comparative balance sheet 31, is presented here. Required: 1. Calculate the change in each balance sheet account and indicate whether each account relates to operating, investing 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. 5 Required 1 Required 2 Required 6 Are the cash flows typical of a start-up, healthy, or troubled company? OStart-Up Company OHealthy Company Troubled Company < Required 2 Required & > < Prev 1 of 7 Next >