Question

The income statement and additional data of Energy Plus, Inc. follows: (Click the icon to view the income statement.) (Click the icon to view the additional data.) Prepare Energy Plus's statement of cash flows for the year ended September 30, 2018, using the indirect method. Include a separate section for non-cash in More Info Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use a minus sign or parentheses for amounts that res not select a label or enter a zero.) i Data Table Energy Plus, Inc. Statement of Cash Flows Year Ended September 30, 2018 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: a. Acquisition of plant assets is $124,000. Of this amount, $110,000 is paid in cash and $14,000 by signing a note payable. b. Cash receipt from sale of land totals $24,000. There was no gain or loss. C. Cash receipts from issuance of common stock total $26.000. d. Payment of note payable is $13,000. e. Payment of dividends is $7,000. f. From the balance sheet: September 30 2018 2017 $ 240,000 96,000 Cash $ Energy Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: Salaries Expense $ 52,000 Depreciation Expense-Plant Assets 23,000 Total Operating Expenses Net Income Before Income Taxes 144,000 Accounts Receivable Merchandise Inventory Land Plant Assets 75,000 31.000 46,000 91,000 83,000 184,000 (47,000) 34,000 15,000 14,000 35,000 270,000 4,000 59,000 89,000 107.000 40,000 (24,000) 16,000 24,000 13,000 9.000 213,000 Net Cash Provided by (Used for) Operating Activities Income Tax Expense Accumulated Depreciation Accounts Payable Accrued Liabilities Notes Payable long-term) Common Stock, no par Retained Earnings 69,000 5,000 64,000 $ Net Income Choose from any list or enter any number in the input fields and then Print Done 3 parts remaining

Answer 1

STATEMENT OF CASH FLOWS Particulars Amount ($) 64,000 Cash flow from operating activities Net income before income taxes Adjustments for- Depreciation expense Operating profit before working capital changes Add: Decrease in accounts receivable (59000-46000) Increase in accounts payable (34000-16000) Less: Increase in merchandise inventory (89000-91000) Decrease in accrued liabilities (15000-24000) Cash generated from operations Less: Income taxes paid Cash flow from operating activities 23,000 87,000 13,000 18,000 -2,000 -9,000 1,07,000 -5,000 1,02,000