CP14-47 (similar to) Wonder Wilderness Company's comparative balance sheet and additional data are shown below. Click the icon to view the comparative balance sheet.) (Click the icon to view the additional data.) Requirement Prepare the statement of cash flows for the year ended December 31, 2019, using the indirect method. (Use a minus sign Wonder Wilderness Company Statement of Cash Flows Year Ended December 31, 2019 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 More Info 1. The income statement for 2019 included the following items: a. Net income, $444,000 b. Depreciation expense for the year, $34,980. c. Amortization on the bonds payable, $340. 2. There were no disposals of property, plant and equipment during the year. All acquisitions of PP&E were for cash except the land, which was acquired by issuing preferred stock. 3. The company issued bonds payable with a face value of $700,000, receiving cash of $697,620 4. The company distributed 3,000 shares of common stock in a stock dividend when the market value was $16.00 per share. All other dividends were paid in cash. 5. The common stock, except for the stock dividend, was issued for cash. 6. The cash receipt from the notes payable in 2019 is considered a financing activity because it does not relate to operations. Print Done Data Table - X Wonder Wilderness Company Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 18,090 0 1,126,910 $ 24,000 2,000 1,300 120 6,200 0 700 3,000 0 Assets Current Assets: Cash Short-term Investments, net Accounts Receivable, net Merchandise Inventory Office Supplies Prepaid Rent Property, Plant, and Equipment: Land Building Canoes Office Furniture and Equipment Accumulated DepreciationPP&E Total Assets Liabilities Current Liabilities: Accounts Payable Utilities Payable 300,000 120,000 1,076,000 376,000 10,080 10,080 110,000 (36,800) (1,820) 2,613,610 $ 532,250 4,730 $ 2,180 540 290 Taloobas Dosobla 020 220 Print Done $ 2,180 4,730 $ 540 920 290 320 1,300 0 3,900 16,000 400 350 100 250 4,800 0 Liabilities Current Liabilities: Accounts Payable Utilities Payable Telephone Payable Wages Payable Notes Payable Interest Payable Unearned Revenue Long-Term Liabilities: Notes Payable Mortgage Payable Bonds Payable Discount on Bonds Payable Total Liabilities Stockholders' Equity Paid-In Capital: Preferred Stock Paid-In Capital in Excess of ParPreferred Common Stock Paid In Capital in Excess of ParCommon Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 4,800 490,000 700,000 (2,040) 0 0 1,219,600 9,240 0 0 120,000 60,000 720,000 100,000 394,010 520,000 0 3,010 1,394,010 523,010 2,613,610 $ 532,250
