Question

The Statement of Cash Flows 989 P16-34A Preparing the statement of cash flows-indirect method with Learning Objective 2 non-cash transactions The 2015 income statement and comparaive balance sheet of Rolling Hills, Inc. follow 1. Net Cash Prov. by Op. Act. $125,700 ROLLING HILLS, INC. Income Statement Year Ended December 31, 2015 Sales Revenue $436,000 Cost of Goods Sold 202,200 Gross Profit 233,800 Operating Expenses Salaries Expense $78,400 Depreciation Expense-Plant Assets 14,400 Other Operating Expenses 10,200 Total Operating Expenses 103,000 130,800 Operating Income Other Revenues and (Expenses) Interest Revenue 8,000 Interest Expense (21,900) Total Other Revenues and (Expenses) (13,900) 116,900 Net Income Before Income Taxes 19,100 Income Tax Expense $ 97,800 Net Income CHAPTER 16

Please complete in excel

Answer 1

A B C D F G H Statement of Cashflows Plant Assets 1 Cash flow from Operating Activities 107,640 Disposal Asset Beg. Bal $ 11,560 2 97,800 Purchases $ 28,600 3 Net Income Adjustments to reconcile the Net Income Depreciation Expense Plant Assets End. Bal $ 124,680 4 14,400 5 (1,200) Retained Earnings 63,900 Beg. Bal Net Income Increase in Accounts Receivable Decrease in Merchandise Inventory Increase in Accounts Payable 11,900 Dividends $ 6,600 7 $ 4,900 (2,100) $ 97,800 8 End. Bal Decrease in Accrued Liabilities $ 40,500 27,900 10 Notes Payable 46,600 Beg. Bal Land Purchased 11 Net Cashflow from Operating Activities $125,700 Redemed $ $ 101,000 12 13 Cashflow from Investing Activities $ 23,600 End. Bal $(28,600) $(46,600) Purchase of Plant Assets $ 78,000 14 Paid the Notes Payable 15 (75,200) 16 Net Cashflow from Investing Activities 17 18 Cashflow from Financing Activities $ 23,900 $(63,900) Issue of Common Stock 19 Dividends Paid 20 (40,000) 21 Net Cashflow from Financing Activities 22 10,500 15,900 23 Net Increase (Decrease) in Cash 24 Add: Beginning Cash Balance 25 Ending Cash Balance 26,400 26 LON

A F Statement of Cashflows Plant Assets 1 Beg. Bal Purchases =SUM(H2:H4)-F2 Cash flow from Operating Activities Disposal Asset 107640 11560 2 97800 3 Net Income Adjustments to reconcile the Net Income Depreciation Expense Plant Assets End. Ba 124680 4 14400 - 25500-26700 -91700-79800 = 35500-30600 - 28600-30700 5 Retained Earnings Increase in Accounts Receivable Beg. Bal Net Income Dividends =SUM(H7 H8)-F9 Decrease in Merchandise Inventory Increase in Accounts Payable 6600 7 97800 8 End. Bal. Decrease in Accrued Liabilities 40500 =SUM (B5.B9) -C3+C10 10 Notes Payable Redemed =SUM(H12:H13)-F14 Beg. Bal 11 Net Cashflow from Operating Activities 101000 12 Land Purchased 23600 13 Cashflow from Investing Activities End. Bal Purchase of Plant Assets -F3 78000 14 Paid the Notes Payable -46600 15 -SUM(B14B15) 16 Net Cashflow from Investing Activities 17 18 Cashflow from Financing Activities Issue of Common Stock -88800-64900 19 Dividends Paid -63900 20 - SUM (B19B20) 21 Net Cashflow from Financing Activities 22 -SUM(C11:C22) 23 Net Increase (Decrease) in Cash 24 Add: Beginning Cash Balance 25 Ending Cash Balance 15900 -C23+C24 26 LON