Use the Boost Plus, Inc. data in Exercise E-F:14-21 to prepare the spreadsheet for the 2024 statement of cash flows. Format cash flows from operating activities by the indirect method.

Data from E-F;14-21

The income statement of Boost Plus, Inc. follows:

Additional data follow:
a. Acquisition of plant assets is $124,000. Of this amount, $108,000 is paid in cash
and $16,000 by signing a note payable.
b. Cash receipt from sale of land totals $20,000. There was no gain or loss.
c. Cash receipts from issuance of common stock total $36,000.
d. Payment of notes payable is $15,000.
e. Payment of dividends is $5,000.
f. From the balance sheet:

Prepare Boost Plus’s statement of cash flows for the year ended September 30, 2024,
using the indirect method. Include a separate section for non-cash investing and
financing activities.

Transcribed Image Text:

Net Sales Revenue Cost of Goods Sold Gross Profit BOOST PLUS, INC. Income Statement Year Ended September 30, 2024 Operating Expenses: Salaries Expense Depreciation Expense-Plant Assets Total Operating Expenses Net Income Before Income Taxes Income Tax Expense Net Income $ 54,000 27,000 $ 231,000 94,000 137,000 81,000 56,000 12,000 $ 44,000