Use the attached worksheet to prepare the Statement of Cash Flows. The "T" account for equipment shows how much equipment was purchased during the period. You need that number for other financing activity calculations.

AutoSave OF AA A2OOP. Exercise Chapter 15 Statement of Cash Flows (2) Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Calibrl (Body) v 13 v AA Wrap Text Custom [G WS v F) M Analyze Data Paste Ay Insert Format Merge & Center Delete BIV $ - % Conditional Format Cell Formatting as Table Styles Sort v Filter Find & Select V Yes No . T K L M N 0 P Q $ 99,510 Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off? F56 Xv fx A B C D E F 1 Quiz: Complete the Statement of Cash Flows Scott Company 2 Statement of Cash Flows 3 Scott Company FYE December 31, 2019 4 Income Statement 5 FYE December 31, 2019 Operating Activities Net Income 7 Sales $ 67,800 e Cost of Goods Sold (411,000) 9 Gross profit 267,000 10 Depreciation expense $ 58,500 11 Other 670 12 Total operating expense (125,600) 13 Operating income 14,140 14 Gain on sale of equipment 2.000 15 Income tax expense 143,890) 16 Net income S 99,510 17 Net cash provided by operating activles: 18 Gazelle Corporation 19 Balance Sheet Current Prior Investing activities 20 December 31 Year Year Source 21 (use! 22 Cash $ 87,500 $ 44,000 43,500 23 Accounts receivable 65.000 51,000 (14,000) Net cash from Investing activities 24 Inventory 63,800 86,500 22,700 25 Prepaid expenses 4,400 5,400 1,000 26 Total current assets 220,700 186,900 27 Financing activities 28 Equipment 124 000 115,000 (9,000) 29 Acc. Depreciation equipment 127.000) 19,000) 18,000 30 Net Equipment 97,000 106,000 31 Total Assets 317,700 $ 292,900 32 33 lcurrent liabilities Sheet1 + Enter EN + 100% % AutoSave OF AA A2OOP. Exercise Chapter 15 Statement of Cash Flows (2) Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Calibrl (Body) v 13 v AA Wrap Text Custom [G v Paste F) M Analyze Data Ay Format Merge & Center BIV $ %, Insert Delete Conditional Format Cell Formatting as Table Styles Sort v Filter V Find & Select Yes No Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off? F56 4 x fx A B C E F G H I K L M N 0 P Q $ $ Net cash provided by financing activities: 25,000 $ 6,000 $ 3,400 34.400 30,000 15,000 3,800 48,800 (5,000) (9,000) 400) Net cosh change Beginning cash balance Ending cash balance (43,500) 44,000 $ 87,500 (30,000) 34 Accounts payable 35 Wages payable 36 Income Tax payable 37 Total current 38 39 Long term notes payable 40 Total liabilities 41 42 Common stock 43 Retained earnings 44 Total equity 45 Total liabilities and equity 4E 30,000 64,400 60,000 108,800 60,000 9,200 220,000 33,300 253,300 317,700 $ 160,000 24,100 184,100 292.900 $ 47 Cash Accumulated depreciation Gain on sale Equipment Journal Entry to record sale of equipment Equipment 115,000 ? 57,500 124,000 2,000 57,600 Equipment Cash Journal entry to reord purchase of equipment 57,600 48 49 Beginning balance 50 Sold equipment cost) 51 Purchased equipment S2 Ending balance 53 54 55 Beginning balance 56 Depreciation expense 57 Acc. Depr. On equipment sold 58 Ending balance 59 60 61 62 Beginning balance 63 Net income 64 Dividends GS Ending balance Accumulated de depreciation 9,000 58,600 ? 27,000 Retainer warnings 24,100 99,510 ? 33,300 Sheet1 + Enter + 100% AutoSave OF AA A2OOP. Exercise Chapter 15 Statement of Cash Flows (2) Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Calibrl (Body) v 13 v AA Wrap Text Custom [G WS v F) M Analyze Data Paste Ay Insert Format Merge & Center Delete BIV $ - % Conditional Format Cell Formatting as Table Styles Sort v Filter Find & Select V Yes No . T K L M N 0 P Q $ 99,510 Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off? F56 Xv fx A B C D E F 1 Quiz: Complete the Statement of Cash Flows Scott Company 2 Statement of Cash Flows 3 Scott Company FYE December 31, 2019 4 Income Statement 5 FYE December 31, 2019 Operating Activities Net Income 7 Sales $ 67,800 e Cost of Goods Sold (411,000) 9 Gross profit 267,000 10 Depreciation expense $ 58,500 11 Other 670 12 Total operating expense (125,600) 13 Operating income 14,140 14 Gain on sale of equipment 2.000 15 Income tax expense 143,890) 16 Net income S 99,510 17 Net cash provided by operating activles: 18 Gazelle Corporation 19 Balance Sheet Current Prior Investing activities 20 December 31 Year Year Source 21 (use! 22 Cash $ 87,500 $ 44,000 43,500 23 Accounts receivable 65.000 51,000 (14,000) Net cash from Investing activities 24 Inventory 63,800 86,500 22,700 25 Prepaid expenses 4,400 5,400 1,000 26 Total current assets 220,700 186,900 27 Financing activities 28 Equipment 124 000 115,000 (9,000) 29 Acc. Depreciation equipment 127.000) 19,000) 18,000 30 Net Equipment 97,000 106,000 31 Total Assets 317,700 $ 292,900 32 33 lcurrent liabilities Sheet1 + Enter EN + 100% % AutoSave OF AA A2OOP. Exercise Chapter 15 Statement of Cash Flows (2) Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Calibrl (Body) v 13 v AA Wrap Text Custom [G v Paste F) M Analyze Data Ay Format Merge & Center BIV $ %, Insert Delete Conditional Format Cell Formatting as Table Styles Sort v Filter V Find & Select Yes No Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off? F56 4 x fx A B C E F G H I K L M N 0 P Q $ $ Net cash provided by financing activities: 25,000 $ 6,000 $ 3,400 34.400 30,000 15,000 3,800 48,800 (5,000) (9,000) 400) Net cosh change Beginning cash balance Ending cash balance (43,500) 44,000 $ 87,500 (30,000) 34 Accounts payable 35 Wages payable 36 Income Tax payable 37 Total current 38 39 Long term notes payable 40 Total liabilities 41 42 Common stock 43 Retained earnings 44 Total equity 45 Total liabilities and equity 4E 30,000 64,400 60,000 108,800 60,000 9,200 220,000 33,300 253,300 317,700 $ 160,000 24,100 184,100 292.900 $ 47 Cash Accumulated depreciation Gain on sale Equipment Journal Entry to record sale of equipment Equipment 115,000 ? 57,500 124,000 2,000 57,600 Equipment Cash Journal entry to reord purchase of equipment 57,600 48 49 Beginning balance 50 Sold equipment cost) 51 Purchased equipment S2 Ending balance 53 54 55 Beginning balance 56 Depreciation expense 57 Acc. Depr. On equipment sold 58 Ending balance 59 60 61 62 Beginning balance 63 Net income 64 Dividends GS Ending balance Accumulated de depreciation 9,000 58,600 ? 27,000 Retainer warnings 24,100 99,510 ? 33,300 Sheet1 + Enter + 100%