Document4 Mailings Review View EEEEE211 IEC . c . - No Spacing Heading! Heading 2 1. (15 follow ) Company's balance sheets as of 12-31-18 and 12-31-19 and is income statement for the year ended 12-31-19 1200R $992.000 Prepaid 31.513.000 750.000 275.000 2000 (1.100 STRO Accused deprec 3,784.000 (140 STARO 250.000 1124 Shomurm debet Aswedis As retirement obligation Bonds payabinet Commonweck (1 par value) Additional paid in capital, common stock Red earnings 745845 100.000 1,925,000 224.000 2018 20,904 545,03 100,000 1.925,000 157.000 ORE 10 SLAB.000 S Operating expenses Other g osses, we tres expense Income before taxes Income tax expense formation for * | cho A h A U o w have to dispose of the machen estimated ST 1.25% and standing to 57.00 22 Os 12-31-15. me d 30.000 bed beds The bond pay . Althem very 30 and 13 31 Arde , incurred and 4.000 of hand On 1231-16, 1400.000 of years bonds. The bond pay at every 0 1 Althe time the r odepaid Al the time , incurred and paid 14,100 of heads costs On 06.30-19, where it wi l l pay retired the bonds On 12-31-19, 200,000 of The bonds pays every 6.0 and 1-3 Althe ime O ued the bed bed paid 2 st Altheme of iscrepaid 1.00 . During 2019. declared and wild cash dividende tandig wech Focus Document4 Mailings Review View ARCODES Albccdde AaBbCcDc AaBb CcDdEt A No Spacing Heading 1 Heading 2 Normal Additional information for follows: . During 2019, recorded a $10,000 impairment loss on one of its plant assets. On 01-01-17. purchased a machine for $100,000. G started using the machine on 01-01-17. Gestimates it will use the machine for 5 years. At the end of the year, will have to dispose of the machine at an estimated cost of $15,000. Assume as of 01-01-17 the interest rate on US Treasury securities was 1% and O's credit standing required a 2% risk premium On 01-01-19. G purchased a machine for 50.000 started using the machine on 01-01-19. Gestimates it will use the machine for 4 years. At the end of the 4 year, G will have to dispose of the machine at an estimated cost of $7,500. Assume as of 01-01-19 the interest rate on US Treasury securities was 1.25% and G's credit standing required a 2.25% risk premium On 12-31-15, issued $350,000 ofis 4%, 5-year term bonds. The bonds pay interest every 06-30 and 12-31. At the time Gissued the bonds, similar bonds paid 4% interest. At the time of issuance, incurred and paid $4,000 of bond issuance costs. On 12-31-16, issued $400,000 of its 4.25%, 6-year term bonds. The bonds pay interest every 06-30 and 12-31. At the time Gissued the boods, similar bonds paid 4%. At the time of i c e, Gincurred and paid $4 500 of bond issuance costs. On 06-30-19, after making its semi-annual interest payment, retired the bonds at 99 On 12-31-19, issued $200,000 of its 39,-year term bands. The bonds pay interest every 06-30 and 12-31. At the time Gissued the bonds, similar bonds paid 3.25% interes. At the time of issuance, incurred and paid $1.800 of bond issuance costs . During 2019, declared and distributed cash dividends on its outstanding common stock On O's income statement, the operating expenses caption includes, but is not limited to, depreciation AND acerction expenses. G's interest expense reported on its income statement is only on money homewed on both a short-term and long-term OnG's income utement, the other gain losses, net caption represents any gains losses on bond retirements and any impairment les records adjusting journal entries only once a year as of year-end Prepare O's statement of cash flows using the indirect method for the year anded 12-31.19. Labelcach section amount as cash provided by OR cash wed in. Make sure the description of the ims within each section recher Focus 11. (15 points) G Company's balance sheets as of 12-31-18 and 12-31-19 and its income statement for the year ended 12-31-19 follow: 12-31-18 12-31-19 Cash $1,513,000 Short-term accounts receivables from customers, net 750,000 Prepaids 275,000 Plant assets 2,800,000 Accumulated depreciation (1,300,000 $4,038,000 $992,000 700,000 300,000 3,784,000 (1,540,000) $4,236,000 Short-term debt Accrued liabilities Asset retirement obligations Bonds payable, net Common stock ($1 par value) Additional paid-in-capital, common stock Retained earnings 250,000 137,428 13,727 748,845 100,000 1,925,000 863,000 $4,038,000 224,000 233,183 20,904 545,913 100,000 1,925,000 1,187,000 $4,236,000+ Sales Operating expenses Other gains/losses, net Interest expense Income before taxes Income tax expense Net income $4,500,000 3,800,000 5,517 23,000 671,483 147,483 $524.000 Additional information for G follows: During 2019, G recorded a $10,000 impairment loss on one of its plant assets. On 01-01-17. G purchased a machine for $100,000. G started using the machine on 01-01-17. G estimates it will use the machine for 5 years. At the end of the 5th year, G will have to dispose of the machine at an estimated cost of $15,000. Assume as of 01-01-17 the interest rate on US Treasury securities was 1% and G's credit standing required a 2% risk premium. On 01-01-19. G purchased a machine for $80,000. G started using the machine on 01-01-19. G estimates it will use the machine for 4 years. At the end of the 4th year, G will have to dispose of the machine at an estimated cost of $7,500. Assume as of 01-01-19 the interest rate on US Treasury securities was 1.25% and G's credit standing required a 2.25% risk premium On 12-31-15, G issued $350,000 of its 4%, 5-year term bonds. The bonds pay interest every 06-30 and 12-31. At the time G issued the bonds, similar bonds paid 4% interest. At the time of issuance, G incurred and paid $4,000 of bond issuance costs. On 12-31-16, G issued $400,000 of its 4.25%, 6-year term bonds. The bonds pay interest every 06-30 and 12-31. At the time G issued the bonds, similar bonds paid 4%. At the time of issuance, G incurred and paid $4,500 of bond issuance costs. On 06-30-19, after making its semi-annual interest payment, G retired the bonds at 99. On 12-31-19, G issued $200,000 of its 3%, 3-year term bonds. The bonds pay interest every 06-30 and 12-31. At the time G issued the bonds, similar bonds paid 3.25% interest. At the time of issuance, G incurred and paid $1,800 of bond issuance costs. During 2019, G declared and distributed cash dividends on its outstanding common stock. On G's income statement, the "operating expenses" caption includes, but is not limited to, depreciation AND accretion expenses. G's interest expense reported on its income statement is only on money borrowed on both a short-term and long-term basis. On G's income statement, the "Other gains/losses, net" caption represents any gains/losses on bond retirements and any impairment losses. G records adjusting journal entries only once a year as of year-end. Prepare G's statement of cash flows using the indirect method for the year ended 12-31-19. Label each section amount as cash provided by OR cash used in. Make sure the description of the items within each section are clear. Document4 Mailings Review View EEEEE211 IEC . c . - No Spacing Heading! Heading 2 1. (15 follow ) Company's balance sheets as of 12-31-18 and 12-31-19 and is income statement for the year ended 12-31-19 1200R $992.000 Prepaid 31.513.000 750.000 275.000 2000 (1.100 STRO Accused deprec 3,784.000 (140 STARO 250.000 1124 Shomurm debet Aswedis As retirement obligation Bonds payabinet Commonweck (1 par value) Additional paid in capital, common stock Red earnings 745845 100.000 1,925,000 224.000 2018 20,904 545,03 100,000 1.925,000 157.000 ORE 10 SLAB.000 S Operating expenses Other g osses, we tres expense Income before taxes Income tax expense formation for * | cho A h A U o w have to dispose of the machen estimated ST 1.25% and standing to 57.00 22 Os 12-31-15. me d 30.000 bed beds The bond pay . Althem very 30 and 13 31 Arde , incurred and 4.000 of hand On 1231-16, 1400.000 of years bonds. The bond pay at every 0 1 Althe time the r odepaid Al the time , incurred and paid 14,100 of heads costs On 06.30-19, where it wi l l pay retired the bonds On 12-31-19, 200,000 of The bonds pays every 6.0 and 1-3 Althe ime O ued the bed bed paid 2 st Altheme of iscrepaid 1.00 . During 2019. declared and wild cash dividende tandig wech Focus Document4 Mailings Review View ARCODES Albccdde AaBbCcDc AaBb CcDdEt A No Spacing Heading 1 Heading 2 Normal Additional information for follows: . During 2019, recorded a $10,000 impairment loss on one of its plant assets. On 01-01-17. purchased a machine for $100,000. G started using the machine on 01-01-17. Gestimates it will use the machine for 5 years. At the end of the year, will have to dispose of the machine at an estimated cost of $15,000. Assume as of 01-01-17 the interest rate on US Treasury securities was 1% and O's credit standing required a 2% risk premium On 01-01-19. G purchased a machine for 50.000 started using the machine on 01-01-19. Gestimates it will use the machine for 4 years. At the end of the 4 year, G will have to dispose of the machine at an estimated cost of $7,500. Assume as of 01-01-19 the interest rate on US Treasury securities was 1.25% and G's credit standing required a 2.25% risk premium On 12-31-15, issued $350,000 ofis 4%, 5-year term bonds. The bonds pay interest every 06-30 and 12-31. At the time Gissued the bonds, similar bonds paid 4% interest. At the time of issuance, incurred and paid $4,000 of bond issuance costs. On 12-31-16, issued $400,000 of its 4.25%, 6-year term bonds. The bonds pay interest every 06-30 and 12-31. At the time Gissued the boods, similar bonds paid 4%. At the time of i c e, Gincurred and paid $4 500 of bond issuance costs. On 06-30-19, after making its semi-annual interest payment, retired the bonds at 99 On 12-31-19, issued $200,000 of its 39,-year term bands. The bonds pay interest every 06-30 and 12-31. At the time Gissued the bonds, similar bonds paid 3.25% interes. At the time of issuance, incurred and paid $1.800 of bond issuance costs . During 2019, declared and distributed cash dividends on its outstanding common stock On O's income statement, the operating expenses caption includes, but is not limited to, depreciation AND acerction expenses. G's interest expense reported on its income statement is only on money homewed on both a short-term and long-term OnG's income utement, the other gain losses, net caption represents any gains losses on bond retirements and any impairment les records adjusting journal entries only once a year as of year-end Prepare O's statement of cash flows using the indirect method for the year anded 12-31.19. Labelcach section amount as cash provided by OR cash wed in. Make sure the description of the ims within each section recher Focus 11. (15 points) G Company's balance sheets as of 12-31-18 and 12-31-19 and its income statement for the year ended 12-31-19 follow: 12-31-18 12-31-19 Cash $1,513,000 Short-term accounts receivables from customers, net 750,000 Prepaids 275,000 Plant assets 2,800,000 Accumulated depreciation (1,300,000 $4,038,000 $992,000 700,000 300,000 3,784,000 (1,540,000) $4,236,000 Short-term debt Accrued liabilities Asset retirement obligations Bonds payable, net Common stock ($1 par value) Additional paid-in-capital, common stock Retained earnings 250,000 137,428 13,727 748,845 100,000 1,925,000 863,000 $4,038,000 224,000 233,183 20,904 545,913 100,000 1,925,000 1,187,000 $4,236,000+ Sales Operating expenses Other gains/losses, net Interest expense Income before taxes Income tax expense Net income $4,500,000 3,800,000 5,517 23,000 671,483 147,483 $524.000 Additional information for G follows: During 2019, G recorded a $10,000 impairment loss on one of its plant assets. On 01-01-17. G purchased a machine for $100,000. G started using the machine on 01-01-17. G estimates it will use the machine for 5 years. At the end of the 5th year, G will have to dispose of the machine at an estimated cost of $15,000. Assume as of 01-01-17 the interest rate on US Treasury securities was 1% and G's credit standing required a 2% risk premium. On 01-01-19. G purchased a machine for $80,000. G started using the machine on 01-01-19. G estimates it will use the machine for 4 years. At the end of the 4th year, G will have to dispose of the machine at an estimated cost of $7,500. Assume as of 01-01-19 the interest rate on US Treasury securities was 1.25% and G's credit standing required a 2.25% risk premium On 12-31-15, G issued $350,000 of its 4%, 5-year term bonds. The bonds pay interest every 06-30 and 12-31. At the time G issued the bonds, similar bonds paid 4% interest. At the time of issuance, G incurred and paid $4,000 of bond issuance costs. On 12-31-16, G issued $400,000 of its 4.25%, 6-year term bonds. The bonds pay interest every 06-30 and 12-31. At the time G issued the bonds, similar bonds paid 4%. At the time of issuance, G incurred and paid $4,500 of bond issuance costs. On 06-30-19, after making its semi-annual interest payment, G retired the bonds at 99. On 12-31-19, G issued $200,000 of its 3%, 3-year term bonds. The bonds pay interest every 06-30 and 12-31. At the time G issued the bonds, similar bonds paid 3.25% interest. At the time of issuance, G incurred and paid $1,800 of bond issuance costs. During 2019, G declared and distributed cash dividends on its outstanding common stock. On G's income statement, the "operating expenses" caption includes, but is not limited to, depreciation AND accretion expenses. G's interest expense reported on its income statement is only on money borrowed on both a short-term and long-term basis. On G's income statement, the "Other gains/losses, net" caption represents any gains/losses on bond retirements and any impairment losses. G records adjusting journal entries only once a year as of year-end. Prepare G's statement of cash flows using the indirect method for the year ended 12-31-19. Label each section amount as cash provided by OR cash used in. Make sure the description of the items within each section are clear