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(Working with a statement of cash flows) Given the balance sheet, and income statement, prepare a statement of cash flows for Abrahams Manufacturing Company
(Working with a statement of cash flows) Given the balance sheet, and income statement, prepare a statement of cash flows for Abrahams Manufacturing Company for the year ended January 31, 2018. Additional information 1. The only entry in the accumulated depreciation account is for 2018 depreciation. 2. The firm paid $17,300 in common stock dividends during 2018. Complete the operating activities part of the statement of cash flows: (Round to the nearest dollar. NOTE: Input cash inflows as positive values and cash outflows as negative values.) Statement of Cash Flows Cash Flows from Operating Activities Net income Adjustments AGROT Depreciation Increase in accounts receivable Decrease in inventory Increase in account payable Decrease in accrued liabilities. Net cash provided by operating activities Data table $ Abrahams Manufacturing Company Income Statement for the Year Ended 1/31/2018 2018 Sales Cost of goods sold Gross profit Selling, general and administrative expenses Depreciation expense Operating income Interest expense Eamings before taxes Taxes Preferred stock dividends Eamings available to common stockholders Print Done $ $ S $ $ 180,000 56,000 - 124,000 47,000 27,000 50,000 2,500 47,500 15,200 12,000 20.300 X Data table 2018 Abrahams Manufacturing Company Balance Sheet for 1/31/2017 and 1/31/2018 2017 89,000 64,000 112,000 10,000 Cash Accounts receivable Inventory Prepaid expenses Total current assets Gross plant and equipment Accumulated depreciation Total assets Accounts payable Accrued liabilities Total current debt Mortgage payable Preferred stock Common stock Retained earnings Total debt and equity Print $ $ 275,000 238,000 (40,000) $ 473,000 S 85,000 68,000 S 153,000 70,000 0 205,000 45,000 $ 473,000 Done $ 114,000 68,400 97,600 10,000 $ 290,000 308,000 (67,000) $ 529,000 S 95,000 58,000 $ 153,000 0 123,000 205,000 48,000 $ 529,000 X
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