Use the income statement of Four Seasons Consulting Ltd. plus these additional data during fiscal year 2020: E (Click the icon to view the Income Statement.) (Click the icon to view the additional data.) Required 1. Prepare Four Seasons Consulting Ltd.'s cash flow statement for the year ended September 30, 2020, using the indirect method. 2. Evaluate Four Seasons Consulting Ltd.'s cash flows for the year. In your evaluation, mention all three categories of cash flows, and give the reason for your evaluation. Requirement 1. Prepare Four Seasons Consulting Ltd.'s cash flow statement for the year ended September 30, 2020, using the indirect method. (Use parentheses or a minus sign for numbers to be subtracted.) Four Seasons Consulting Ltd. Cash Flow Statement For the Year Ended September 30, 2020 C-41 - AM Data Table - X Four Seasons Consulting Ltd. Income Statement For the Year Ended September 30, 2020 Revenues $ 564,000 Consulting revenue Expenses Salaries expense $312.000 Amortization expense 68,000 14,000 Rent expense Office supplies expense 16,000 Insurance expense 4,500 Interest expense 4,000 48,000 Income tax expense 466 500 92 500 Print Done Data Table Four Seasons Consulting Ltd. Income Statement For the Year Ended September 30, 2020 Revenues $ 564,000 Consulting revenue Expenses Salaries expense S 312,000 Amortization expense 68,000 Rent expense 14,000 Office supplies expense 16.000 Insurance expense 4.500 Interest expense 4,000 48.000 Income tax expense 466,500 $ 97,500 INet income Print Done Additional data: a. Acquisition of computer equipment was $238,000. Of this amount, $208,000 was paid in cash and $30,000 by signing a long-term note payable. Four Seasons Consulting Ltd. sold no computer equipment during fiscal year 2020. b. Cash received from sale of land, $29,000. c. Cash receipts from issuance of common shares, $98,000. d. Payment of long-term note payable, $54,000. e. Payment of dividends, $142,000. f. Change in cash balance, $?. g. From the comparative balance sheet at September 30: Four Seasons Consulting Ltd. Balance Sheet (partial) September 30, 2020 and 2019 2020 2019 Current assets Print Done - X More Info f. Change in cash balance, $?. g. From the comparative balance sheet at September 30: Four Seasons Consulting Ltd. Balance Sheet (partial) September 30, 2020 and 2019 2020 2019 Current assets Cash $ 65,500 $ 54,000 Accounts receivable 32,000 156.000 36,000 Office supplies Prepaid expenses 29.000 16.000 16,000 Current liabilities Accounts payable $ 76,000||$ 62,000 Accrued liabilities 46,000 54,000 Print Done during fiscal Requirement 1. Prepare Four Seasons Consulting Ltd.'s cash flow statement for the year ended September 30, 2020, using the indirect method. (Use parentheses or a minus sign for numbers to be subtracted.) Four Seasons Consulting Ltd. Cash Flow Statement For the Year Ended September 30, 2020 Cash flows from operating activities Net income Add (subtract) items that affect net income and cash flow differently: Amortization expense Decrease in accounts receivable Increase in office supplies udta during riscal and cash flow differently 2 Amortization expense Decrease in accounts receivable Increase in office supplies Increase in accounts payable Decrease in accrued liabilities Net cash inflow from operating activities Cash flows from investing activities Acquisition of computer equipment Cash receipt from sale of land Net cash outflow from investing activities Cash flows from financing activities Enter any number in the edit fields and then continue to the next question. C (1) Use the income statement of Four Seasons Consulting Ltd. plus these additional data during fisca Cash flows from financing activities Cash receipt from issuance of common shares Payment of long-term note payable Dividends paid Net cash outflow from financing activities Net increase in cash Cash balance at beginning of 2020 Cash balance at end of 2020 Non-cash investing and financing activities: Acquisition of equipment by issuing note payable Use the income statement of Four Seasons Consulting Ltd. plus these additional data during fiscal Cash balance at beginning of 2020 ... Cash balance at end of 2020 Non-cash investing and financing activities: | Acquisition of equipment by issuing note payable Requirement 2. Evaluate Four Seasons Consulting Ltd.'s cash flows for the year. In your evaluation, mention all three categories of cash flows, and give the reason for your evaluation. The cash flow from is V and it provided funds to acquire the computer equipment, which is found under The company is fairly strong and has little problem in acquiring by way of notes and common shares, which is found in the section of the cash flow statement. Use the income statement of Four Seasons Consulting Ltd. plus these additional data during fiscal Cash balance at beginning of 2020 Cash balance at end of 2020 Non-cash investing and financing activities: Acquisition of equipment by issuing note payable Requirement 2. Evaluate Four Seasons Consulting Ltd.'s cash flows for the year. In your evaluation, mention all three categories of cash flows, and give the reason for your evaluation. The cash flow from IS ider acquire the compute strong and has little shares, which is fou and it provided funds to V. The company is fairly by way of notes and common financing activities section of the cash flow statement. Enter any number il investing activities tinue to the next question operating activities Time Remaining: 02 11:53 IN Use the income statement of Four Seasons Consulting Ltd. plus these additional data during fiscal Cash balance at beginning of 2020 ... Cash balance at end of 2020 Non-cash investing and financing activities: Acquisition of equipment by issuing note payable Requirement 2. Evaluate Four Seasons Consulting Ltd.'s cash flows for the year. In your evaluation mention all three categories of cash flows, and give the reason for your evaluation. The cash flow from is J and it provided funds to The company is fairly acquire the computer equipment, which is fo strong and has little problem in acquiring shares, which is found in the of notes and common not satisfactory w statement Enter any number in the edit fields and the very satisfactory stion Consulting Ltd. plus these additional data during fiscal Cash balance at beginning of 2020 .. Cash balance at end of 2020 Non-cash investing and financing activities: Acquisition of equipment by issuing note payable Requirement 2. Evaluate Four Seasons Consulting Ltd.'s cash flows for the year. In your evaluation, mention all three categories of cash flows, and give the reason for your evaluation. funds to The cash flow from is V and it provided acquire the computer equipment, which is found under T strong and has little problem in acquiring by way of note shares, which is found in the section of the cash flow stat most of the Enter any number in the edit fields and then continue to the next question. none of the Use the income statement of Four Seasons Consulting Ltd. plus these additional data during fiscal Cash balance at beginning of 2020 Cash balance at end of 2020 Non-cash investing and financing activities: Acquisition of equipment by issuing note payable financing activities Requirement 2. Evaluate Four Seasons Consulting Ltd mention all three categories of cash flows, and give the investing activities our evaluation The cash flow from operating activities is funds to acquire the computer equipment, which is found under The company is fairly strong and has little problem in acquiring V by way of 'notes and common shares, which is found in the section of the cash flow statement. Enter any number in the edit fields and then continue to the next question. Use the income statement of Four Seasons Consulting Ltd. plus these additional data during fisca Cash balance at beginning of 2020 Cash balance at end of 2020 Non-cash investing and financing activit Acquisition of equipment by issuing not computer equipment Requirement 2. Evaluate Four Seasons mention all three categories of cash flows ne year. In your evaluation aluation. long-term financing The cash flow from ded short-term financing funds to The company is fairly acquire the computer equipment, which is strong and has little problem in acquiring shares, which is found in the by way of notes and common V section of the cash flow statement. Use the income statement of Four Seasons Consulting Ltd. plus these additional data during fiscal Cash balance at beginning of 2020 . Cash balance at end of 2020 Non-cash investing and financing activities: Acquisition of equipment by Requirement 2. Evaluate Foi mention all three categories o financing activities ash flows for the year. In your evaluation, on for your evaluation, The cash flow from investing activities acquire the computer equipm strong and has little problem i and it provided funds to The company is fairly operating activities by way of notes and common shares, which is found in the section of the cash flow statement. Enter any number in the edit fields and then continue to the next