The income statement of Supplements Plus, Inc. follows:

Additional data follow:
a. Acquisition of plant assets is $121,000. Of this amount, $104,000 is paid in cash and $17,000 by signing a note payable.
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 $30,000.
d. Payment of notes payable is $16,000.
e. Payment of dividends is $9,000.
f. From the balance sheet:

Prepare Supplements Plus€™s statement of cash flows for the year ended September 30, 2016, using the indirect method. Include a separate section for non-cash investing and financing activities.

 
 

SUPPLEMENTS PLUS, INC. Income Statement Year Ended September 30, 2016 Sales Revenue $ 234,000 Cost of Goods Sold 91,000 Gross Profit 143,000 Operating Expenses: Salaries Expense $ 55,000 Depreciation Expense-Plant Assets 25,000 Total Operating Expenses 80,000 Net Income Before Incorne Taxes 63,000 Income Tax Expense 10,000 Net Income $ 53,000