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The income statement and additional data of Supplements Plus, Inc follows (Click the icon to view the income statement) Click the icon to view
The income statement and additional data of Supplements Plus, Inc follows (Click the icon to view the income statement) Click the icon to view the additional data) Prepare Supplements Plus's statement of cash flows for the year ended September 30, 2004, using the indeedt method include a separate section for non-canh investing and financing activ Complete the statement one section at a time, beginning with the cash flown 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, inve the box empty do not select a label or enter a zero) Supplements 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 Actybes Net Cash Provided by (Used for) Operating Activities a. Acquisition of plant assets is $115,000. Of this amount, $105,000 is paid in cash and $10,000 by signing a note payable. b. Cash receipt from sale of land totals $22,000. There was no gain or loss. c. Cash receipts from issuance of common stock total $29,000. d. Payment of note payable is $9,000. e. f. Payment of dividends is $12,000. From the balance sheet: Cash Accounts Receivable Merchandise Inventory Land September 30 2024 2023 $ 38,000 $ 31,230 42,000 51,000 91,000 84,000 71,000 93,000 Plant Assets 175,000 60,000 Accumulated Depreciation (55,000) (30,000) Accounts Payable 36,000 22,000 Accrued Liabilities 18,000 27,000 Notes Payable (long-term) 10,000 9,000 Common Stock, no par 34.000 5,000 Retained Earnings 264,000 226,230 69 240,000 92,000 148,000 I Net Sales Revenue Supplements Plus, Inc. Income Statement Year Ended September 30, 2024 Cost of Goods Sold Gross Profit Operating Expenses Salaries Expense Depreciation Expense-Plant Assets Total Operating Expenses Net Income Before Income Taxes Income Tax Expense 69 Net Income 60.000 25.000 85,000 63,000 13.230 49,770
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