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NOSKER COMPANY Comparative Balance Sheets December 31 2020 2019 Assets Cash Accounts receivable Inventory Equipment Accumulated depreciation-equipment $35,100 $19,800 32,150 26,050 59,800 (29,900) (23,550) 18,450 20,300 77,500 Total $123,200 $112,500 Liabilities and Stockholders Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $28,700 16,750 8,150 32,450 14,900 40,250 $123,200 $112,500 7,350 26,600 18,600 41,950 Total

NOSKER COMPANY Income Statement For the Year Ended December 31, 2020 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $242,200 176,000 66,200 23,600 42,600 2,150 40,450 8,950 $31,500 Additional data 1. Dividends declared and paid were $29,800 2. During the year, equipment was sold for $8,100 cash. This equipment cost $17,700 originally and had a book value of $8,100 at the time of sale 3. All depreciation expense, $15,950, is in the operating expenses 4. All sales and purchases are on account.

hELP ME SOLVE THIS! use THE ABOVE TO Prepare a statement of cash flows using the indirect method.

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Answer #1

Prepare cashflow statement as provided below Amount in S Net Income Add: Depreciation Less: Increase in accounts receivable Less: Increase in Inventory Add: Increase in Accounts Payable Less: Decrease in income taxes payable Cash inflow/(ouflow) from operating activities 31,500 15,950 (13,700) (5,750) 11,950 (800) 39,150 Cashflow from Financing Activities Decrease in Bonds Payable Increase in common stock Dividend Paid Cash inflow/(ouflow) from financing activities (5,850) 3,700 (29,800) (31,950) Sale of Equipment Cash inflow/(ouflow) from Investing Activity Net cash inflow/(outflow) Add:Cash Balance at the end of 2019 Cash Balance as at the end of 2020 8,100 8,100 15,300 19,800 35,100

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Prepare cashflow statement as provided below: Amount in S Net Income Add: Depreciation Less: Increase in accounts receivable Less: Increase in Inventory Add: Increase in Accounts Payable Less: Decrease in income taxes payable Cash inflow/(ouflow) from operating activities 31500 15950 -18450-32150 -20300-26050 -28700-16750 7350-8150 SUM(B2:B9) Cashflow from Financing Activities Decrease in Bonds Payable Increase in common stock Dividend Paid Cash inflow/(ouflow) from financing activities -26600-32450 -18600-14900 29800 SUM(B13:B15) Cashflow from Investing Activities Sale of Equipment Cash inflow/(ouflow) from Investing Activity Net cash inflow/(outflow) Add: Cash Balance at the end of 2019 Cash Balance as at the end of 2020 8100 SUM(B19) -B10+B16+B20 19800 -B21+B22

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