Also need reconciliation.

Case 2: Financial Statement Case Part 2: Statement of Cash Flows The purpose of this assignment is to review material covered in Acct:2100 and build your cash-flow skills. You may collaborate with colleagues; however, you are required to do your own work and your own case. Use the balance sheet at June 30, 2019 (shown on the next page) and your work-related solution to Case 1 Using the direct method, prepare "Your Firm's" Statement of Cash Flows for the year ended June 30, 2019. Prepare all required supplemental schedules. gnore income taxes Your work is to be done using Microsoft Office's EXCEL or an EXCEL compatible program Consider using the Excel Casse 2_Student Support EXCEL Worksheet to assist you Submit to ICON by 11:59pm Sunday, June 9, 2019. CHECK FIGURES Net cash flows provided (used) by: Operating Activities $118,375 Financing Activities $(52,585) SeBASS Inc. Balance Sheet Change June 30, 2019 2018 Assets Cash S 124,870 107,080 17,790 Accounts receivable 785,350 122,500 662,850 (78,535 (72,110) Allowance for doubtful accounts (6,425) Interest receivable 6,000 6,000 (5,735) 98,950 104,685 Inventories Prepaid insurance 600 18,000 17,400 Total Current Assets 954,635 351,240 ABBEE Investment (AFS Property, Plant and Equipment, gross 298,900 304,800 5,900 103,000 1,827,450 1,724,450 (635,100) Accumulated depreciation (511,807) 123,293 $ 2,575,078 $ 1,739,490 Total Assets 835,588 Liabilities Accounts payable Salaries payable S 189,075 96,075 93,000 24,900 19,375 5,525 Interest payable 1,980 1,980 Dividends payable (1,585) 2,400 3,985 Total Current Liabilities 218,355 119,435 264,000 764,000 500,000 Long-term note payable Total Liabilities 982,355 619,435 Shareholders' Equity Common stock, no par 480,000 480,000 Retained Earnings 694,155 1,180,423 486,268 Accumulated Other Comprehensive Income (1,100) 4,800 5,900 (72,500) (53,000) (19,500) Treasury stock Total Shareholder's Equity 1,592,723 1,120,055 $ 2,575,078 $ 1,739,490 Total Liabilities and Shareholders' Equity 835,588 SeBASS Inc. Income Statement For the Year Ended June 30, 2019 Sales 2,115,000 1,105,735 1,009,265 Cost of goods sold Gross profit Operating expenses: Salary expense Depreciation expense Bad debt expense Insurance expense $ 284,900 78,707 76,010 35,400 7,000 Maintenance expense 482,017 Operating income Other (income) expense: 527,248 Investment & interest income (12,000) 7,000 14,480 Loss on sale of Sales Building 2 Interest expense Net income (loss) 9,480 517,768 Cash TAccount (Case 1) SeBASS Inc. Statement of Cash Flows BE 107,080 Year Ended June , 2019 317.250 41 1,007.000 02 12.500 E Cash Flows from OperatingActivities 1 000 216.000 it 195,000.0 Cash paid to (for) 19,500 M 33,085 N 1,637.460 1,655.250 124,870 EB Net Cash Flows Provided by Operating Activities Cash T- Account from Case 1 Solution Cash Flows from Investing Activities: Net Cash Flows from Investing Activities Cash Flows from Financing Activities: Net Cash Flows from Financing Activities ein cash Cash at June 30, 2018 , 2019 107,080 Cash at June 3 Cash Flows from Operating Activities Reconcilliation of net Income Net changes in current assets and current labiities NCF Operating Activities Noncash investing and financing activites Supplementary Disclosure of Cash Flow Information Case 2: Financial Statement Case Part 2: Statement of Cash Flows The purpose of this assignment is to review material covered in Acct:2100 and build your cash-flow skills. You may collaborate with colleagues; however, you are required to do your own work and your own case. Use the balance sheet at June 30, 2019 (shown on the next page) and your work-related solution to Case 1 Using the direct method, prepare "Your Firm's" Statement of Cash Flows for the year ended June 30, 2019. Prepare all required supplemental schedules. gnore income taxes Your work is to be done using Microsoft Office's EXCEL or an EXCEL compatible program Consider using the Excel Casse 2_Student Support EXCEL Worksheet to assist you Submit to ICON by 11:59pm Sunday, June 9, 2019. CHECK FIGURES Net cash flows provided (used) by: Operating Activities $118,375 Financing Activities $(52,585) SeBASS Inc. Balance Sheet Change June 30, 2019 2018 Assets Cash S 124,870 107,080 17,790 Accounts receivable 785,350 122,500 662,850 (78,535 (72,110) Allowance for doubtful accounts (6,425) Interest receivable 6,000 6,000 (5,735) 98,950 104,685 Inventories Prepaid insurance 600 18,000 17,400 Total Current Assets 954,635 351,240 ABBEE Investment (AFS Property, Plant and Equipment, gross 298,900 304,800 5,900 103,000 1,827,450 1,724,450 (635,100) Accumulated depreciation (511,807) 123,293 $ 2,575,078 $ 1,739,490 Total Assets 835,588 Liabilities Accounts payable Salaries payable S 189,075 96,075 93,000 24,900 19,375 5,525 Interest payable 1,980 1,980 Dividends payable (1,585) 2,400 3,985 Total Current Liabilities 218,355 119,435 264,000 764,000 500,000 Long-term note payable Total Liabilities 982,355 619,435 Shareholders' Equity Common stock, no par 480,000 480,000 Retained Earnings 694,155 1,180,423 486,268 Accumulated Other Comprehensive Income (1,100) 4,800 5,900 (72,500) (53,000) (19,500) Treasury stock Total Shareholder's Equity 1,592,723 1,120,055 $ 2,575,078 $ 1,739,490 Total Liabilities and Shareholders' Equity 835,588 SeBASS Inc. Income Statement For the Year Ended June 30, 2019 Sales 2,115,000 1,105,735 1,009,265 Cost of goods sold Gross profit Operating expenses: Salary expense Depreciation expense Bad debt expense Insurance expense $ 284,900 78,707 76,010 35,400 7,000 Maintenance expense 482,017 Operating income Other (income) expense: 527,248 Investment & interest income (12,000) 7,000 14,480 Loss on sale of Sales Building 2 Interest expense Net income (loss) 9,480 517,768 Cash TAccount (Case 1) SeBASS Inc. Statement of Cash Flows BE 107,080 Year Ended June , 2019 317.250 41 1,007.000 02 12.500 E Cash Flows from OperatingActivities 1 000 216.000 it 195,000.0 Cash paid to (for) 19,500 M 33,085 N 1,637.460 1,655.250 124,870 EB Net Cash Flows Provided by Operating Activities Cash T- Account from Case 1 Solution Cash Flows from Investing Activities: Net Cash Flows from Investing Activities Cash Flows from Financing Activities: Net Cash Flows from Financing Activities ein cash Cash at June 30, 2018 , 2019 107,080 Cash at June 3 Cash Flows from Operating Activities Reconcilliation of net Income Net changes in current assets and current labiities NCF Operating Activities Noncash investing and financing activites Supplementary Disclosure of Cash Flow Information