Waldorf, Incorporated provided the following balance sheet, income statement, and cash flow information for the current year. (Click the icon to view the balance sheet.) (Click the icon to view the income statement.) E (Click the icon to view the cash flow information.) Requirement Prepare the statement of cash flows under the indirect method for Waldorf, Incorporated. Accrued expenses relate to Selling, Gener Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use a minus sign or parenth is not used in the statement, leave the box empty: do not select a label or enter a zero.) Waldorf, Incorporated Partial Statement of Cash Flows (Indirect Method) For the Year Ended December 31 Operating Activities: Cash Collected from Customers Adjustments to Reconcile Net Income to Cash Flows 4635 Choose from any list or enter any number in the input fields and then click Check Answer. uuestion Help come statement, and cash flow information for the current year. icon to view the income statement.) for Waldorf, Incorporated. Accrued expenses relate to Selling, General and Administrative Expenses. e cash flows from operating activities. (Use a minus sign or parentheses for any numbers to be subtracted and/or net cash used by activities. If a box a label or enter a zero.) nod) 4635 U UT UU UW WITHIUVITTUI ulc Curent year. Additional Cash Flow Information Description Cash received on common stock issue Cash payments for dividends Cash payment for acquisition of property, plant, and equipment Cash receipt from the sale of investment securities Cash payments for repayment of notes Cash Inflow (Outflow) $ 5,200 (4,700) (19,800) 12,700 (11,900) Print Done Waldorf, Incorporated Income Statement For the Year Ended December 31 Sales $ 79,900 46,500 Cost of Goods Sold $ 33,400 Gross Profit Selling, General, and Administrative Expenses $ 10,400 2,300 Depreciation Expense $ 12,700 Total Operating Expenses Income Before Interest and Taxes $ 20,700 (4,300) Interest Expense Print Done Sales Cost of Goods Sold 79,900 46,500 $ 33,400 Gross Profit Selling, General, and Administrative Expenses Depreciation Expense $ 10,400 2,300 $ 12,700 Total Operating Expenses Income Before Interest and Taxes 20,700 (4,300) Interest Expense Income Before Tax $ 16,400 (7,800) Income Tax Expense Net Income 8,600 Waldorf, Incorporated Balance Sheet At December 31 Ending Beginning 3,300 7,600 Assets Current Assets Cash Accounts Receivable Merchandise Inventory Prepaid Expenses Total Current Assets Noncurrent Assets 7,935 $ 7,800 2,500 2,000 4,100 2,600 20,235 $ 17,600 Noncurrent Assets Investments $ 12,400 $ 78,000 24,700 61,000 Property, Plant, and Equipment - net Total Noncurrent Assets 90,400 $ 110,635 $ 85,700 103,300 $ Total Assets Liabilities Current Liabilities Accounts Payable Accrued Expenses Income Taxes Payable Total Current Liabilities 4,400 $ 10,200 6,400 1,015 5,150 4,600 21,000 $ 10,765 LIL: i Balance Sheet $ 21,000 $ 10,765 Total Current Liabilities Noncurrent Liabilities 42,600 30,970 $ 30,970 42,600 51,970 $ 53,365 Notes Payable Total Noncurrent Liabilities Total Liabilities Stockholders' Equity Common stock, $1 par value Additional Paid - In Capital Retained Earnings Total Stockholders' Equity 9,500 $ 20,200 28,965 58,665 $ 8,500 16,000 25,435 49,935 110,635 $ 103,300 Total Liabilities and Stockholders' Equity
