Question

needing help on how calculate the acquisition. please show all work. thanks

(Click the icon te ne 2018 income statement and comparative balance sheet of Granite Rock, Inc. follow: (Click the icon to view the income statement.) Read the requiremer Click the icon to view the comparative balance sheet.) Complete the statement one section at a time, beginning with the cash flows from operating activities. 109,600 Granite Rock, Inc. Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities Depreciation Expense-Plant Assets Increase in Accounts Receivable Decrease in Merchandise Inventory Increase in Accounts Payable 14,300 (1.100) 13,000 4.900 (2.200) 28.900 Decrease in Accrued Liabilities Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: 138,500 Cash Payment for Acquisition of Plant Assets Net Cash Provided by (Used for) Investing Activities Choose from any list or enter any number in the input fields and then click Check Answer 4 parts remaining Clear All Type here to search e SE 3 Wile HP Compaq LEO

Answer 1

Answer:

Grantie Rock, Inc.
Statement of Cash Flows
Year Ended December 31,2018
Cash Flows from Operating Activities:
Net income		$109,600
Adjustments to Reconcile Net income to Net cash
Provided by (Used for) Operating Activities:
Depreciation Expense-Plant Assets	$14,300
Increase in Accounts Receivable	($1,100)
Decrease in Merchandise Inventory	$13,000
Increase in Accounts payable	$4,900
Decrease in Accrued Liabilities	($2,200)	$28,900
Net cash provided by (used for) operating activities (i)		$138,500
Cash Flows from investing activities:
Cash payment for Acquisition of Land	($26,400)
Cash payment for Acquisition of Plant Assets	($22,500)
Net cash provided by (used for) investing activities (ii)		($48,900)
Cash Flows from financing activities:
Issuance of common stock	$24,200
Cash paid for notes payable	($29,000)
Payment of cash dividends	($73,200)
Net cash provided by (used for) financing activities (iii)		($78,000)
Net increase (decrease) in cash (i+ii+iii)		$11,600
Cash balance, Beginning balance		$14,900
Cash balance, Ending balance		$26,500

Calculations:

Dr.			Cr.
Accumulated depreciation
Retirement of Plant asset (balance amount)	$11,340	Beginning balance	$16,820
Ending balance	$19,780	Depreciation expense	$14,300
Total	$31,120	Total	$31,120
Plant Assets
Beginning balance	$108,520	Retirement of plant assets	$11,340
Acquisition (balance amount)	$22,500	Ending balance	$119,680
Total	$131,020	Total	$131,020