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text in green that got cut: (If a box is not used in the spreadsheet, leave the box empty; do not select a label or
text in green that got cut: (If a box is not used in the spreadsheet, leave the box empty; do not select a label or enter a zero. Do not check your answer until both Panel A and Panel B have been completed. Abbreviations used: Acquistion of Plant Assets by Issuing NP = Acquisition of Plant Assets by Issuing Note Payable.)
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The income statement and additional data of Supplements Plus, Inc. follow. (Click the icon to view the income statement.) (Click the icon to view the additional data) Prepare the spreadsheet for the 2018 statement of cash flows. Format cash flows from operating activities by the indirect method. Use the transaction references in Panel B when selecting the transaction references in Panel A. (If a box is not used in the spreadsheet, leave the box empty, do not select a label or enter a zero. Do not check your answer until Supplements Plus, Inc. Spreadsheet for Statement of Cash Flows 0 Data Table - X Year Ended September 30, 2018 Balance 9/30/2017 Transaction Analysis DEBIT CREDIT Balance 9/30/2018 Panel A-Balance Sheet: Cash Accounts Receivable Merchandise Inventory Plant Assets 10,000 60,000 86.000 50,000 38,000 50,000 90,000 166,000 233,000 89,000 144,000 Supplements Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ Cost of Goods Sold Gross Profit Operating Expenses: Salaries Expense $ 55,000 Depreciation ExpensePlant Assets 29.000 Total Operating Expenses Net Income Before Income Taxes Income Tax Expense Accumulated Depreciation-Plant Assets (15,000) 82.000 (44,000) 54,000 Land $ 273,000 354,000 Total Assets 84.000 Accounts Payable Accrued Liabilities 60,000 6.000 21,000 31.000 10,000 62,000 34,000 20,000 11,000 54,000 Notes Payable Net Income Total Liabilities 65,000 Print Done Common Stock, no par Retained Earnings 12,000 L 199,000 273,000 46,000 243,000 354,000 Total Liabilities and Stockholders' Equity Panel B-Statement of Cash Flows: Cash Flows from Operating Activities: Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Net Cash Provided by Operating Activities Cash Flows from Investing Activities: 54,000 Land 82,000 273,000 $ $ 354,000 Total Assets Accounts Payable Accrued Liabilities Notes Payable Total Liabilities 21,000 31,000 10,000 34,000 20,000 11,000 62,000 65,000 Common Stock, no par Retained Earnings 12,000 199,000 46,000 243,000 Total Liabilities and Stockholders' Equity $ 354,000 273,000 Panel B-Statement of Cash Flows: Cash Flows from Operating Activities: A More Info - X Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: a. Acquisition of plant assets is $116,000. Of this amount, $105,000 is paid in cash and $11,000 by signing a note payable. b. Cash receipt from sale of land totals $28,000. There was no gain or loss. C. Cash receipts from issuance of common stock total $34,000. d. Payment of note payable is $10,000. e. Payment of dividends is $10,000. f. From the balance sheet: Net Cash Provided by Operating Activities Cash Flows from Investing Activities: (91) Net Cash Used for Investing Activities Cash Flows from Financing Activities: Cash Accounts Receivable Merchandise Inventory Land Plant Assets September 30 2018 2017 $ 38,000 $ 10,000 50,000 60,000 90,000 86,000 54,000 82,000 166,000 50,000 (44,000) (15,000) 34,000 21,000 20,000 31,000 11,000 10,000 46,000 12,000 243,000 199,000 Net Cash Used for Financing Activities Accumulated Depreciation Accounts Payable Accrued Liabilities Notes Payable (long-term) Common Stock, no par Retained Earnings Non-cash Investing and Financing Activities: Total Non-cash Investing and Financing Activities (92 Total Print Done Choose from any list or enter any number in the input fields and then click CheckStep by Step Solution
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