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The comparative balance sheet of Johnson Educational Supply at December 31, 2018, reported the following: (Click the icon to view the comparative balance sheet.) Johnson's
The comparative balance sheet of Johnson Educational Supply at December 31, 2018, reported the following: (Click the icon to view the comparative balance sheet.) Johnson's transactions during 2018 included the following: B! (Click the icon to view the transactions.) Read the requirements. Requirement 1. Prepare the statement of cash flows of Johnson Educational Supply for the year ended December 31, 2018. Use the indirect method to report cash flows from operating activities. (Use cash. If a box is not used in the statement, leave the box empty, do not select a label or enter a zero.) Complete the statement one section at a time beginning with the cash flows from onerating activities Data Table - X Data Table 2018 2017 $ $ Current Assets: Payment of cash dividends Purchase of equipment with cash Issuance of long-term notes payable to borrow cash Issuance of common stock for cash 19,200 54,300 52,000 110,000 Depreciation expense Purchase of building with cash Net income 17,000 101,000 61,600 Cash 90,200 $ 14,500 62,200 18,500 21,300 59,600 Accounts Receivable Merchandise Inventory Current Liabilities: Accounts Payable Requirements 31,600 11,200 29,600 11,800 Accrued Liabilities Print Done 1. Prepare the statement of cash flows of Johnson Educational Supply for the year ended December 31, 2018. Use the indirect method to report cash flows from operating activities. 2. Evaluate Johnson's cash flows for the year. Mention all three categories of cash flows, and give the reason for your evaluation 3. If Johnson plans similar activity for 2019, what is its expected free cash flow? Net Cash Provided by (Used for) Operating Activities Print Done Choose from any list or enter any number in the input fields and then d
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