X . A Font Paragraph Styles Editing Dictate bard Voice 1.2.1.1.1.1.1.2.1.3:14:15:16:1.7.1-8.1.9.1 10 11 12 13 14 1 15 i 16 17 / 1 Problem 1: The following financial information is obtained regarding Ellish Company: 12/31/19 12/31/18 Current Assets: Cash Accounts Receivable (net) Merchandise Inventory Prepaid Expenses Supplies Non-Current Assets: 180,000 140,000 130,000 7,000 3,000 46,000 90.000 150,000 2,000 4,000 Land Plant Assets Accumulated Depreciation 100,000 200,000 (60,000) -0 200,000 (40,000) Total Assets 700.000 452,000 Current Liabilities: Accounts Payable Accrued Liabilities 25,000 15,000 33,000 9,000 Non-current Liabilities: Notes Payable 100,000 20,000 Total Liabilities: 140,000 62.000 Common Stock (51 Par Value) Comes Stock APIC Retained Earnings Total Stockholders' Equity 200,000 50,000 310,000 140,000 10,000 240,000 560,000 390,000 Additional Data: A) 2019 Net Income was $170,000 Page 1 of 4 414 words English (United States) + 6096 Type here to search o 81 File Horr Inser Drau Desic Layo Refet Maili Revie View Help O Search LD . 001 [G Paste Font Paragraph Styles Editing Dictate Clipboard Voice 2.1.1.1.1.2.1.3.1.4.1.5.1.6.1.7.1.8.1.9. 110 111 112 113 114 115 116 117 118- Notes Payable 100,000 20,000 Total Liabilities: 140,000 62,000 Common Stock ($1 Par Value) Common Stock-APIC Retained Earnings Total Stockholders' Equity 200,000 50,000 310,000 140,000 10,000 240,000 560,000 390,000 Additional Data: A) 2019 Net Income was $170,000 I B) Land was acquired by taking out a Notes Payable for $90,000 and paying Cash for the balance C) All Common Stock was issued for Cash. REQUIRED: Prepare the Statement of Cash Flow for Ellish Company under the Indirect Method. HINT: Don't be afraid to be an Accounting Detective and draw T-accounts on scrap paper. That will help you with Notes Payable as well as with Depreciation Expense and Dividends which are not given here but can be easily calculated if you are a good Accounting Detective! Ellis Company Statement of Cash Flow 414 words E English (United States) age 1 of 4 + 6 1 Type here to search