Vitamins Plus, Inc. Income Statement Year Ended September 30, 2016 Sales Revenu Cost of Goods Sold Gross Profit Operating Expenses $ 233,000 97,000 136,000 Salaries Expense Depreciation Expense-Plant Assets Total Operating Expenses $58,000 24,000 Net Income Before Income Tax Income Tax Expense Net Income 82,000 54,000 5,000 $ 49,000 Plant Assets Accumulated Depreciation Land Accounts Payable Accrued Liabilities Notes Payable (long-term) Common Stock, no par Retained Earnings 172,000 (36,000) 82,000 39,000 17,000 10,000 37,000 290,000 60,000 (12,000) 104,000 21,000 30,000 9,000 6,000 253,000 a. Acquisition of plant assets is $112,000. Of this amount, $102,000 is paid in cash and $10,000 by signing a note payable b. Cash receipt from sale of land totals $22,000. There was no gain or loss c. Cash receipts from issuance of common stock total $31,000 d. Payment of note payable is $9,000 e. Payment of dividends is $12,000 f. From the balance sheet: September 30 2016 2015 Cash Accounts Receivable Merchandise Inventory Plant Assets Accumulated Depreciation Land $ 34,000 20,000 53,000 94,000 60,000 (12,000) 104,000 44,000 97,000 172,000 (36,000) 82,000 104,000 82,000 Land $ 319,000 $ 393,000 Total Assets Accounts Payable Accrued Liabilities Notes Payable Total Liabilities 21,000 30,000 9,000 60,000 39,000 17,000 10,000 66,000 Common Stock, no par Retained Earnings Total Liabilities and Stockholders' Equity 6,000 253,000 $ 319,000 37,000 290,000 $ 393,000 Panel B Statement of Cash Flows: nel B State Cash Flows from Operating Activities: Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Net Cash Provided by Operating Activities Cash Flows from Investing Activities: (g1) Net Cash Used for Investing Activities Cash Flows from Financing Activities G) Net Cash Used for Financing Activities Non-cash Investing and Financing Activities: (g2) Total Non-cash Investing and Financing Activities (g2) Total The income statement and additional data of Vitamins Plus, Inc. follow EEB (Click the icon to view the income statement.)(Click the icon to view the additional data.) Prepare the spreadsheet for the 2016 statement of cash flows. Format cash flows from operating activities by the indirect method. Use the transaction references in Panel B when selecting the transaction references in Panel A. (If a box is not used in the spreadsheet, leave the box empty; do not select a label or enter a zero. Do not check your answer until both Panel A and Panel B have been completed.) Vitamins Plus, Inc. Spreadsheet for Statement of Cash Flows Year Ended September 30, 2016 Balance Transaction Analysis Balance Panel A-Balance Sheet 9/30/2015 DEBIT CREDIT 9/30/2016 Cash Accounts Receivable Merchandise Inventory Plant Assets $20,000 53,000 94,000 60,000 34,000 44,000 97,000 172,000 Depreciation-Plant Assets (12,000) (36,000) Vitamins Plus, Inc. Income Statement Year Ended September 30, 2016 Sales Revenu Cost of Goods Sold Gross Profit Operating Expenses $ 233,000 97,000 136,000 Salaries Expense Depreciation Expense-Plant Assets Total Operating Expenses $58,000 24,000 Net Income Before Income Tax Income Tax Expense Net Income 82,000 54,000 5,000 $ 49,000 Plant Assets Accumulated Depreciation Land Accounts Payable Accrued Liabilities Notes Payable (long-term) Common Stock, no par Retained Earnings 172,000 (36,000) 82,000 39,000 17,000 10,000 37,000 290,000 60,000 (12,000) 104,000 21,000 30,000 9,000 6,000 253,000 a. Acquisition of plant assets is $112,000. Of this amount, $102,000 is paid in cash and $10,000 by signing a note payable b. Cash receipt from sale of land totals $22,000. There was no gain or loss c. Cash receipts from issuance of common stock total $31,000 d. Payment of note payable is $9,000 e. Payment of dividends is $12,000 f. From the balance sheet: September 30 2016 2015 Cash Accounts Receivable Merchandise Inventory Plant Assets Accumulated Depreciation Land $ 34,000 20,000 53,000 94,000 60,000 (12,000) 104,000 44,000 97,000 172,000 (36,000) 82,000 104,000 82,000 Land $ 319,000 $ 393,000 Total Assets Accounts Payable Accrued Liabilities Notes Payable Total Liabilities 21,000 30,000 9,000 60,000 39,000 17,000 10,000 66,000 Common Stock, no par Retained Earnings Total Liabilities and Stockholders' Equity 6,000 253,000 $ 319,000 37,000 290,000 $ 393,000 Panel B Statement of Cash Flows: nel B State Cash Flows from Operating Activities: Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Net Cash Provided by Operating Activities Cash Flows from Investing Activities: (g1) Net Cash Used for Investing Activities Cash Flows from Financing Activities G) Net Cash Used for Financing Activities Non-cash Investing and Financing Activities: (g2) Total Non-cash Investing and Financing Activities (g2) Total The income statement and additional data of Vitamins Plus, Inc. follow EEB (Click the icon to view the income statement.)(Click the icon to view the additional data.) Prepare the spreadsheet for the 2016 statement of cash flows. Format cash flows from operating activities by the indirect method. Use the transaction references in Panel B when selecting the transaction references in Panel A. (If a box is not used in the spreadsheet, leave the box empty; do not select a label or enter a zero. Do not check your answer until both Panel A and Panel B have been completed.) Vitamins Plus, Inc. Spreadsheet for Statement of Cash Flows Year Ended September 30, 2016 Balance Transaction Analysis Balance Panel A-Balance Sheet 9/30/2015 DEBIT CREDIT 9/30/2016 Cash Accounts Receivable Merchandise Inventory Plant Assets $20,000 53,000 94,000 60,000 34,000 44,000 97,000 172,000 Depreciation-Plant Assets (12,000) (36,000)