The fourth picture is the labels and amount descriptions tab for reference. Thanks in advance!
Statement of cash flows-direct method Instructions Labels and Amount Descriptions Statement of Cash Flows Instructions 1 Dec 31, 2016 Dec. 31, 2015 2 Assets 3 Cash $643,290.00 $679,820.00 546,470.00 4 Accounts receivable (net) 567,130.00 5 Inventories 1,010,720.00 982,810.00 6 Investments 0.00 240,290.00 7 Land 520,170.00 0.00 3 Equipment 880,950.00 679,180.00 9 Accumulated depreciation (243,580.00) (199,410.00) 10 Total assets $3,378,680.00 $2,929,160.00 11 $74.300.00 $771.620.00 63,010,00 71,040.00 8,000.00 7,080.00 Liabilities and Stockholders' Equity 12 Accounts payable (merchandise creditors) 13 Accrued expenses payable (operating expenses) 14 Dividends payable 1s Common stock, S2 par 16 Paid-in capital:Excess of issue price over par-common stock 17 Retained earnings 18 Total liabilities and stockholders' equity 32,000.00 56,000.00 408,000.00 2,072,050.00 192,000.00 1,878,740,00 $3,378,680.00 $2,929,160.00 atement of cash flows-direct method Instructions Labels and Amount Descriptions Statement of Cash Flows nstructions The income statement for the year ended December 31, 20Y6, is as follows: 1 Sales $5,985,750.00 2,452,320.00 $3,533,430.00 $44,170.00 3,100,990.00 6 2 Cost of goods sold 3 Gross profit Operating expenses: 5 Depreciation expense Other operating expenses Total operating expenses Operating income Other expense: 10 Loss on sale of investments 11 Income before income tax 3,145,160.00 7 $388,270.00 (63,610.00) $324,660.00 12 Income tax expense 103,090.00 $221,570.00 13 Net income Instructions Total operating expenses 5.745.16000 $388.270,00 Operating income Other expense: Loss on sale of investments 11 Income before income tax 10 (63,610.00) $324,660.00 12 Income tax expense 103,090.00 13 Net income $221,570,00 Additional data obtained from an examination of the accounts in the ledger for 2076 are as follows: a. Equipment and land were acquired for cash b. There were no disposals of equipment during the year. c. The investments were sold for $176,680 cash d. The common stock was issued for cash. e. There was a $28,260 debit to Retained Earnings for cash dividends declared. Prepare a statement of cash flows, using the direct method of presenting cash flows from operating activities. Be sure to complete the heading of the statement. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Enter amounts that represent cash outflows as negative numbers using a minus sign Pr follows: The 31, 2015 1679,820.00 546,470.00 982,810.00 Inste Labels and Amount Descriptions Cash paid for dividends Cash paid for purchase of equipment Cash paid for purchase of land Cash paid for purchase of treasury stock Cash payments for income taxes Cash payments for merchandise Cash payments for operating expenses Cash received from customers Cash received from sale of common stock Cash received from sale of investments Change in cash December 31, 20Y6 Depreciation For the Year Ended December 31, 2046 Gain on sale of investments Issuance of common stock for acquisition of land Issuance of common stock for purchase of equipment Loss on sale of investments Net cash flow from financing activities Net cash flow from investing activities 240,290.00 0.00 679,180.00 199.410.00) 1929,160.00 748,300.00 71,040.00 7,080.00 32,000.00 192,000.00 Net cash flow from operating activities Net cash flow used for financing activities Net cash flow used for investing activities Net cash flow used for operating activities Statement of Cash Flows Statement of Cash Flows (Label) 1 Cash flows from operating activities: 2 3 4 5 6 7 8 Cash flows from investing activities: 9 10 11 I I 12 15 24 Cash flows from financing activities: 15 16 17 19 Cash at the beginning of the year 20 Cash at the end of the year
