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Use the indirect method to prepare the cash flow statement for Bird Industries for the year 2019. Shark Enterprises, Inc. Balance Sheet 2018 2019 Cash
Use the indirect method to prepare the cash flow statement for Bird Industries for the year 2019. Shark Enterprises, Inc. Balance Sheet 2018 2019 Cash $1,000 $1,300 Accounts receivable 8,000 9,000 Inventories 4,000 7,000 Land 10,000 10,000 Other fixed assets 5,000 5,500 Accumulated depreciation (1.600) (2.000) Total assets $26,400 $30,800 Accounts payable $4,200 $7,000 Bonds 4,000 4,000 Common stock 15,000 16,000 Retained earnings 3.200 3.800 Total debt and equity $26,400 $30.800 Shark Enterprises, Inc. Income Statement For the period ended 12/2019 Sales $44,900 Cost of goods sold (22,000) Gross profit $12,900 Operating expenses (10,000) Depreciation (400) EBIT $2,500 Interest expense (500) EBT $2,000 Taxes (1.000) Net Income $1,000
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