Question

LILUL HUW. LULU a Data Table Spreadshoot for Statement of Year Ended September 30, Balance 9/30/2015 Vitamins Plus, Inc. Income Statement Year Ended September 30, 2016 21,000 55,000 90,000 Sales Revenue $ 233,000 98,000 50,000 Cost of Goods Sold Gross Profit Operating Expenses: 135,000 (34,000) 79,000 Salaries Expense $ 51,000 24,000 261,000 Depreciation Expense--Plant Assets 75,000 Total Operating Expenses Net Income Before Income Taxes 60,000 7,000 22,000 20,000 15,000 Income Tax Expense 53,000 Net Income 57,000 Print Done 5,000 199,000 238,000 Der in the input fields and then click Check Answer. Clear All

Answer 1

Spreadsheet for the 2016 showing Statement of cash flows:
		Transaction Analysis
Balance Sheet	Bal. 9/30/2015	Debit	Credit	Bal. 9/30/2016
Cash	21000	14000		35000
Acc. Rece.	55000		15000	40000
Merch. Inv.	90000	7000		97000
Plant assets	50000	116000		166000
Acc. Dep.-PA	-34000		24000	-58000
Land	79000		25000	54000
Total Assets	261000			334000
Acc Payable	22000		11000	33000
Acc Liabilities	20000	10000		10000
notes Payable	15000		1000	16000
Total Liabilities	57000			59000
Common Stock, no par	5000		32000	37000
Retained Earnings	199000		39000	238000
Total Liab. & SH Eq.	261000	147000	147000	334000
Statement of Cash Flow (indirect method)
From operating activities:
	Amount $
Net Income	53000
Add: Depre	24000
Add: decrease in AR	15000
Less:increase in M.Inv.	-7000
add:increase in AP	11000
Less:decrease in AL	-10000
Net cash inflow of Opera Activi	86000
From Investing activities:
Less:cash purchase of plant	-100000
add:sale of land	25000
Net Cash outflow of Inv. Activ.	-75000
From Financing activities:
less:payment of Note payable	-15000
add:issue of Stock	32000
less:dividend paid	-14000
Net Cash inflow of Fin Activi	3000
Cash inflow of all activi	14000
Opening Cash	21000
Closing Cash	35000