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The income statement and additional data of Daily Plus, Inc. follows: (Click the icon to view the income statement.) i (Click the icon to view
The income statement and additional data of Daily Plus, Inc. follows: (Click the icon to view the income statement.) i (Click the icon to view the additional data.) Prepare Daily Plus's statement of cash flows for the year ended September 30, 2024, using the indirect method. Include a separate section for non-cash investing and financing activities. Data table Daily Plus, Inc. - More info tivit a. Acquisition of plant assets is $119,000. Of this amount, $104,000 is paid in cash and $15,000 by signing a note payable. Income Statement b. Cash receipt from sale of land totals $26,000. There was no gain or loss. C. Year Ended September 30, 2024 Cash receipts from issuance of common stock total $29,000. d. Payment of note payable is $14,000. Net Sales Revenue $ 235,000 e. Payment of dividends is $11,000. 90,000 Cost of Goods Sold f. From the balance sheet: Gross Profit 145,000 Operating Expenses: 2024 September 30 2023 Salaries Expense 56,000 Depreciation Expense-Plant Assets 24,000 Cash Accounts Receivable 38,000 $ 35,000 $ 25,650 52,000 80,000 Merchandise Inventory 96,000 89,000 Total Operating Expenses Land 72,000 98,000 Net Income Before Income Taxes 65,000 Plant Assets 194,000 75,000 13,650 Income Tax Expense Accumulated Depreciation (49,000) (25,000) $ 51,350 Net Income Accounts Payable 38,000 25,000 Accrued Liabilities 14,000 26,000 Notes Payable (long-term) 15,000 14,000 in the More info b. Cash receipt from sale of land totals $26,000. There was no gain or loss. C. Cash receipts from issuance of common stock total $29,000. d. Payment of note payable is $14,000. e. f. Payment of dividends is $11,000. From the balance sheet: Cash Accounts Receivable Merchandise Inventory September 30 2023 2024 $ 35,000 $ 25,650 38,000 52,000 96,000 89,000 Land 72,000 98,000 Plant Assets 194,000 75,000 Accumulated Depreciation (49,000) (25,000) Accounts Payable 38,000 25,000 Accrued Liabilities Notes Payable (long-term) Common Stock, no par Retained Earnings 281,000 240,650 14,000 26,000 15,000 14,000 38,000 9,000 Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.) Daily Plus, Inc. Statement of Cash Flows Year Ended September 30, 2024 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash Cash Balance, September 30, 2023 Cash Balance, September 30, 2024 Cash Balance, September 30, 2023 Cash Balance, September 30, 2024 Non-cash Investing and Financing Activities: Total Non-cash Investing and Financing Activities
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