The accounting records of DVD Sales, Inc., include the following accounts:

Cash accounts receivable inventory

Jul 1 5,500 jul 1 21,000 jul 1 22,000

???? ???? ????

Jul 31 3,000 jul 31 17,000 jul 31 25,500

Accounts payable accumulated depr. Equipment inventory

Jul 1 14,500 jul 1 55,000 jul 1 65,000

???? depr 3,000 dividend 19,000 net inc 65,000

Jul 31 19,500 jul 31 58,000 jul 31 111,000

1. Compute DVD's net cash provided by (used for) operating activities during July. Use the indirect method.

The income statement of Minerals Plus, Inc., follows:

MINERALS PLUS, INC

INCOME STATEMENT

YEAR ENDED SEPTEMBER 30, 2012

Revenues:

Service revenue 235,000

Expenses:

Cost of goods sold 97,000

Salary expense 57,000

Depreciation expense 26,000

Income tax expense 4,000 184,000

Net income 51,000

• a.Acquisition of plant assets is $118,000. Of this amount, $100,000 is paid in cash and $18,000 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 $29,000.
• d.Payment of note payable is $18,000.
• e.Payment of dividends is $8,000.
• f.From the balance sheet:

September 30

2012 2011

Current assets:

Cash 30,000 8,000

Accounts 41,000 59,000

Inventory 97,000 93,000

Current liabilities: accounts payable 30,000 17,000

Accrued liabilities 11,000 24,000

1.Prepare Minerals Plus's statement of cash flows for the year ended September 30, 2012, using the indirect method. Include a separate section for noncash investing and financing activities.