The balance sheet and income statement for Vispara Company are presented below. Vispara Company Balance Sheet As at December 31 2018 2017 Assets Current Assets Cash $ 132,825 $76,400 Accounts Receivable $44,800 $27,600 Merchandise Inventory $72,500 $44,700 Total Current Assets $250,125 $148,700 Land $95,000 $105,000 Equipment $100,000 $138,000 Less: Accumulated Depreciation $-50,000 $-67,000 Total Assets $395,125 $324,700 Liabilities and Equity Liabilities Current Liabilities Accounts Payable $35,700 $68,800 Taxes Payable $26,500 $26,500 Total Current Liabilities $62,200 $95,300 Bonds Payable $126,700 $87,900 Total Liabilities $188,900 $183,200 Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Equity $79,500 $65,500 $126,725 $76,000 $206,225 $141,500 $395,125 $324,700 Notes: The company paid cash dividends during 2018. The company did not make a bonds payable payment during 2018. The company did not purchase any equipment during 2018. The company did not purchase any land during 2018. Vispara Company Income Statement For the Year Ended December 31, 2018 Sales $387,000 Cost of Goods Sold $251,550 Gross Profit $135,450 Operating Expenses Depreciation Expense $9,000 Other Operating Expenses $26,300 Total Operating Expenses $35,300 Income from Operations $100,150 Other Revenue Interest Expense $-7,700 Loss on Sale of Equipment $-5,400 Gain on Sale of Land $7,700 Operating Income before Tax Income Tax Net Income (Loss) $94,750 $28,425 $66,325 Prepare the cash flow statement for December 31, 2018 using the indirect method. Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash. Vispara Company Cash Flow Statement For the Year Ended December 31, 2018 Cash Flow from Operating Activities Net Income Adjustments to Reconcile Net Income to Cash Depreciation Expense Loss on Sale of Equipment Gain on Sale of Land Changes in Operating Assets and Liabilities Increase in Accounts Receivable Increase in Merchandise Inventory Decrease in Accounts Payable Change in Cash Due to Operating Activities Cash Flow from Investing Activities Sale of Equipment Sale of Land Net Cash Provided (Used) by Investing Activities Cash Flow from Financing Activities Proceeds from Issuance of Common Stock Proceeds from Bonds Payable Payment of Dividends Net Cash Provided (Used) by Financing Activities Net increase (decrease) in cash Cash at the Beginning of the Year Cash at the End of the Year
