Anyways' cash flow statement in $2021($the amounts of expenditures are in parentheses$)$ is:

Required: Anyways did not acquire or dispose of any Property, plant, and equipment during $2021.$ All line items with non$-$zero values are presented on the financial statements. Answer the following questions.

a$)$ What is net cash flow?

b$)$ What is sales revenue?

c$)$ What are payments to suppliers?

d$)$ What are purchases of inventory? $($Note: this does not appear directly on the financial statements$)$

e$)$ What is wage expense?

f$)$ What is operating cash flow?

g$)$ What is beginning prepaid rent?

h$)$ What is ending accumulated depreciation?

i$)$ What is net income?

j$)$ What are dividends declared? $($Note: this item does not appear as a line on the financial statements$)2)$ Recording transactions and preparing financial statements question $(40$ points; $1$ point for each journal entry, $1$ point for each T account, and $5$ points for each of the income statement and the balance sheet$)$

Vintage Incorporated's beginning of year X unclassified balance sheet is

For convenience, the answer sheet includes T accounts for all balance sheet accounts with the accounts' beginning balances inserted. During year X$,$ Vintage experienced the following accounting events

a$.$ Sold inventory costing $\backslash (\backslash$$ $50\backslash )$ for $\backslash (\backslash$$ $150\backslash )$ on account

b$.$ Delivered inventory costing $\backslash (\backslash$$ $10\backslash )$ in full satisfaction of the unearned sales revenue

c$.$ Paid accounts payable of $\backslash (\backslash$$ $40\backslash )$

d$.$ Received cash of $\backslash (\backslash$$ $120\backslash )$ from credit customers

e$.$ Used the rented space during the year for one$-$half of the period covered by the beginning$-$of$-$year prepaid rent.

f$.$ Employees earned wages of $\backslash (\backslash$$ $50\backslash )$ and were paid $\backslash (\backslash$$ $30\backslash )$ during the year

g$.$ Recorded depreciation expense for the year. The property, plant, and equipment being depreciated has an eight$-$year useful life and no salvage value.

h$.$ Recorded $\backslash (\backslash$$ $10\backslash )$ interest expense on the note payable for the year.

i$.$ Paid $\backslash (\backslash$$ $100\backslash )$ on the notes payable, of which $\backslash (\backslash$$ $10\backslash )$ is an interest payment and $\backslash (\backslash$$ $90\backslash )$ is a principal payment$).$

Required: Record the journal entries for the accounting events listed above on the answer sheet. Indicate which of these accounting events yield adjusting entries, either in whole or in part. Post these journal entries to the T accounts provided on the answer sheet. Prepare the income statement for year X $.$ Record the closing journal entry and post it to the T accounts provided. Prepare the balance sheet at the end of year X $.$ Transactions analysis question $(40$ points, $4$ points for each correct answer$)$

The balance sheets for Anyways, Inc., a merchandising firm, at the ends of $2021$ and $2020($the amount of the contra asset is in parentheses$)$ are:

Anyways' single$-$step income statement in $2021($the amounts of expenses are in parentheses$)$ is:

$($Question $3$ continues on next page$)$ Anyways' cash flow statement in $2021($the amounts of expenditures are in parentheses$)$ is:

Required: Anyways did not acquire or dispose of any Property, plant, and equipment during $2021.$ All line items with non$-$zero values are presented on the financial statements. Answer the following questions.

a$)$ What is net cash flow?

b$)$ What is sales revenue?

c$)$ What are payments to suppliers?

d$)$ What are purchases of inventory? $($Note: this does not appear directly on the financial statements$)$

e$)$ What is wage expense?

f$)$ What is operating cash flow?

g$)$ What is beginning prepaid rent?

h$)$ What is ending accumulated depreciation?

i$)$ What is net income?

j$)$ What are dividends declared? $($Note: this item does not appear as a line on the financial statements$)$