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Use the following balance sheet additional information for Nicky Inc. 2018 financial year to answer #1 - 4 , all pertaining to its Statement of
Use the following balance sheet additional information for Nicky Inc. 2018 financial year to answer #1 - 4, all pertaining to its Statement of Cash Flows:
1. The Net cash provided by (or used for) operating activities during 2018 was?
2. The cash paid to suppliers during 2018 was?
3. The net cash provided by (or used for) investing activities during 2018 was?
4. The net cash provided by (or used for) financing activities during 2018 was?
Assets Accounts Receivable Inventory Long-term Investment Bu dding and Equipment (Accumulated Depreciation) Land Total Assets 2018 2017 $ 42,000 5 31,000 73,000 75,000 75.000 70,000 40,000 15,000 550,000 400,000 (115.000) (75,000) 50,000 59,000 5 715,000 $575,000 Income Statement for 2018 Sales Revenue $ 380.000 Cost of Goods Sold (120,000) Salaries Expense (55,000) Depreciation Expense (40,000) In terest Expense (12,000) Loss on Sale of Land (3.000) Income Tax Expense (70,000) Net Income $ 80.000 Liabilities Accounts Payable Salaries Payable Interest Payable Income Tax Payable Notes Payable Bonds Payable $ 28,000 $ 35,000 2,000 3,000 5,000 3,000 9,000 12.000 30,000 160,000 100,000 Shareholders' Equity Common Stock, 51 par Paid-in Capital - Exc+31 of par Recained Earings Total Liabilities and Equity 255.000 200,000 161,000 100,000 95.000 90,000 $ 715.000 $575.000 Additional Information from the accounting records: Land that originally cost $9,000 was sold for $6,000. Ib. The common stock of News Corp. was purchased for $25,000 as a long-term investment. New equipment was purchased for $150,000 cash. A $30,000 note was paid at maturity on January 1. On January 1, 2018, $60,000 of bonds were sold at face value Common stock ($50,000 par) was sold for $76,000. In May, Jamaica Inc. issued a 5% stock dividend (5,000 shares). The market price of the $1 par value common stock was $8 per share at that time. non cash Net Income was $80,000 and cash dividends of $35.000 were paid to shareholders. Duda F g. hStep by Step Solution
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