Complete the following spreadsheet in preparation of the statement of cash flows. Prepare the spreadsheet as in Exhibit 16A.1 under the indirect method. Identify the debits and credits in the Analysis of Changes columns with letters that correspond to the following transactions and events a through h.

Exhibit 16A.1

a. Net income for the year was $100,000.

b. Dividends of $80,000 cash were declared and paid.

c. The only noncash expense was $70,000 of depreciation.

d. Purchased plant assets for $90,000 cash.

e. Notes payable of $20,000 were issued for $20,000 cash.

f. $50,000 increase in accounts receivable.

g. $30,000 decrease in inventory.

h. $10,000 decrease in accounts payable.

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GENESIS Spreadsheet for Statement of Cash Flows-Indirect Method For Year Ended December 31, 2021 Dec. 31, 2020 Balance Sheet-Debit Bal. Accounts Cash Accounts receivable Inventory Prepaid expenses Plant assets Balance Sheet-Credit Bal. Accounts Accumulated depreciation Accounts payable Interest payable Income taxes payable Notes payable Common stock, $5 par value Retained earnings Statement of Cash Flows Operating activities Net income Increase in accounts receivable Increase in inventory Increase in prepaid expenses Decrease in accounts payable Decrease in interest payable Increase in income taxes payable Depreciation expense Loss on sale of plant assets Gain on retirement of notes Investing activities Receipts from sale of plant assets Financing activities Payment to retire notes Receipts from issuing stock Payment of cash dividends Noncash Investing and Financing Activities Purchase of plant assets with notes $ 12,000 40,000 (b) 70,000 (c) 4,000 (d) 210.000 (1) $336,000 $ 48,000) 40,000 (e) 4.000 (f) 12,000 64,000 ( 80,000 88,000 (m) $336,000 (a) (g) (h) (i) (1) 10 (k2) Analysis of Changes Credit Debit $20,000 14,000 2,000 60,000 (i) 12,000 (h) 5,000 1,000 34.000 (2) (0) 14,000 (a) 38,000 10,000 24,000 6,000 2,000 15,000 (b) (c) (d) (e) (f) (1) (m) 60,000 (k1) $317,000 $20,000 24,000 10,000 60,000 15,000 38,000 20,000 14,000 2,000 5,000 1,000 16,000 18,000 14,000 60,000 $317,000 Dec. 31, 2021 $17,000 60,000 84,000 6,000 250,000 $417,000 $ 60,000 35,000 3,000 22,000 90,000 95,000 112,000 $417,000