13#1 Part 2

Requirement 2. Also prepare a supplementary schedule of cash flows from operations using the direct method. (Use parentheses or a minus sign for numbers to be subtracted.)

	Mosaic Company, Inc.
	Statement of Cash FlowsOperating Activities Section (Direct Method)
	For the Year Ended March 31, 2017
	Operating Activities:
	Net cash provided by (used for) operating activities

Balance sheets

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	A		B	C	D
1	Mosaic Company, Inc.
2	Comparative Balance Sheets
3	March 31, 2017 and 2016
4	Assets		2017	2016	Increase (Decrease)
5	Current assets:
6	Cash		$55,000	$14,300	$40,700
7	Accounts receivable		51,500	53,800	(2,300)
8	Inventory		65,400	59,600	5,800
9	Prepaid insurance		3,800	5,300	(1,500)
10	Total current assets		175,700	133,000
11
12	Land		34,000	96,500	(62,500)
13	Equipment, net		72,000	70,700	1,300
14	Investments		9,300	7,000	2,300
15	Total assets		$291,000	$307,200
16
17	Liabilities
18	Current liabilities:
19	Accounts payable		$4,600	$3,200	1,400
20	Note payable, short-term		43,000	48,600	$(5,600)
21	Income tax payable		13,800	15,700	(1,900)
22	Salary payable		9,900	12,700	(2,800)
23	Interest payable		8,500	7,100	1,400
24	Accrued liabilities		100	3,000	(2,900)
25	Total current liabilities		79,900	90,300
26
27	Long-term liabilities		47,500	93,200	(45,700)
28	Total liabilities		127,400	183,500
29
30	Stockholders' equity
31	Common stock		69,200	61,400	7,800
32	Retained earnings		94,400	62,300	32,100
33	Total stockholders' equity		$163,600	$123,700
34
35	Total liabilities and equity		$291,000	$307,200

Transactions

Dialog content startsSelected transaction data for the year ended March 31,

2017,

include the following:

a.	Net income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$76,900
b.	Paid long-term note payable with cash. . . . . . . . . . . . . .	$60,400
c.	Cash payments to employees. . . . . . . . . . . . . . . . . . . . . .	$41,900
d.	Loss on sale of land. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$9,200
e.	Acquired equipment by issuing long-term note payable	$14,700
f.	Cash payments to suppliers. . . . . . . . . . . . . . . . . . . . .	$149,100
g.	Cash paid for interest. . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$3,100
h.	Depreciation expense on equipment. . . . . . . . . . . . . . . .	$13,400
i.	Paid short-term note payable by issuing common stock. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$5,600
j.	Paid cash dividends. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$44,800
k.	Received cash for issuance of common stock. . . . . . . .	$2,200
l.	Cash received from customers. . . . . . . . . . . . . . . . . . . . .	$297,300
m.	Cash paid for income taxes. . . . . . . . . . . . . . . . . . . . . . . .	$12,500
n.	Sold land for cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$53,300
o.	Interest received (in cash). . . . . . . . . . . . . . . . . . . . . .	$2,000
p.	Purchased long-term investment for cash. . . . . . . . . .	$2,300