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The income statement and additional data of Energy Plus, Inc. follows: B (Click the icon to view the income statement.) (Click the icon to view
The income statement and additional data of Energy Plus, Inc. follows: B (Click the icon to view the income statement.) (Click the icon to view the additional data.) Prepare Energy Plus's statement of cash flows for the year ended September 30, 2018, using the indirect method. Include a separate section for non-cash investing and financing activities. 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.) Energy Plus, Inc. 0 More Info Statement of Cash Flows Year Ended September 30, 2018 Cash Flows from Operating Activities: a. Acquisition of plant assets is $112.000. Of this amount. $101,000 is paid in cash and $11,000 by signing a note Net Income * Data Table payable. Adjustments to Reconcile Net Income to Net Cash b. Cash receipt from sale of land totals $26,000. There Provided by (Used for) Operating Activities: was no gain or loss. Energy Plus, Inc. c. Cash receipts from issuance of common stock total $29.000. Income Statement Year Ended September 30, 2018 d. Payment of note payable is $10,000. e. Payment of dividends is $9,000. Net Sales Revenue $ 232,000 f. From the balance sheet: Cost of Goods Sold 92,000 September 30 Gross Profit 140,000 2018 2017 Operating Expenses: Cash $ 35,000 $ 7,000 Salaries Expense $ 52,000 Accounts Receivable 43,000 53,000 Net Cash Provided by (Used for) Operating Activities Depreciation Expense- Merchandise Inventory 30,000 91,000 Plant Assets 84,000 Land 71,000 97,000 Total Operating Expenses 82,000 Plant Assets 182,000 70,000 Net Income Before Income Accumulated Taxes 58,000 Depreciation (60,000) (30,000) Income Tax Expense 6,000 Accounts Payable 36,000 23,000 $ Accrued Liabilities 52,000 15,000 Net Income 20,000 Notes Payable (long- term) 11,000 10,000 Print Done Common Stock, no par 39,000 10,000 Retained Earnings 261,000 218,000 Print Done
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