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The income strawment and additional data of Daily Plus, Inc. follows: (see pictures) Prepare Daily Plus's statement of casb flows for the year ended September
The income strawment and additional data of Daily Plus, Inc. follows: (see pictures)
Daily Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ 232,000 Cost of Goods Sold 99,000 Gross Profit 133,000 Operating Expenses: Anna Operating Expenses: Salaries Expense $ 56,000 25,000 Depreciation Expense-Plant Assets Total Operating Expenses 81,000 Net Income Before Income Taxes 52,000 Income Tax Expense 10,000 $ 42,000 Net Income C. a. Acquisition of plant assets is $120,000. Of this amount, $106,000 is paid in cash and $14,000 by signing a note payable. b. Cash receipt from sale of land totals $28,000. There was no gain or loss. Cash receipts from issuance of common stock total $35,000. d. Payment of note payable is $13,000. Payment of dividends is $7,000. f. From the balance sheet: September 30 2018 2017 e. More Info 2018 2017 Cash Accounts Receivable Merchandise Inventory $ 38,000 $ 23,000 39,000 52,000 89,000 84,000 Land Plant Assets 54,000 82,000 195,000 75,000 (45,000) (20,000) 36,000 21,000 Accumulated Depreciation Accounts Payable Print Done lore Info Land 54,000 82,000 Plant Assets 195,000 75,000 Accumulated Depreciation (20,000) (45,000) 36,000 Accounts Payable 21,000 Accrued Liabilities 17,000 29,000 14,000 13,000 Notes Payable (long-term) Common Stock, no par Retained Earnings 48,000 13,000 255,000 220,000 Print Done Prepare Daily Plus's statement of casb flows for the year ended September 30, 2018, using the indirect method. Include a seperate 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 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. )
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