AutoSave OFF ABC Home Insert Draw Page Layout Formulas Data Review View Automate Dev G Pastel Arial V 10 v AA BO Wrap Text Merge & Center E12 A B fx C D E F G H Problem 21-02 5 6 WRIGHT COMPANY Spreadsheet for the Statement of Cash Flows 7 8 9 Dec. 31 2020 Changes Debits Credits Dec. 31 2021 10 Balance Sheet 11 Assets: 12 Cash 30 42 13 Accounts receivable 75 73 14 Short-term investment 15 40 15 Inventory 70 75 16 Land 60 50 17 Buildings and equipment 400 550 18 Less: Acc. depreciation (75) (115) 19 575 715 20 Liabilities: 21 Accounts payable 35 28 22 Salaries payable 5 2 23 Interest payable 3 5 24 Income tax payable 12 9 25 Notes payable 30 26 Bonds payable 100 160 27 28 Shareholders' Equity: 29 Common stock 200 250 30 Paid-in capital - excess of par 100 126 31 Retained eamings 90 135 32 575 715 33 Home Insert Draw Page Layout Formulas Data Review View Automate Develope Arial 10 AA Wrap Text Paste B 3 3 Merge & Center E12 fx A 34 35 Revenues: 36 37 Expenses: 38 39 40 41 42 B Statement of Income Sales revenue Cost of goods sold Salaries expense Interest expense Loss on sale of land C Depreciation expense 43 Income tax expense 44 45 449 46 47 48 Net income Statement of Cash Flows Operating activities: Cash inflows 49 From customers 50 Cash outflows: 51 To suppliers of goods 52 53 To employees For interest expense 54 For income taxes 55 56 57 58 59 60 Net cash flows Investing activities: Sale of land Purchase of short-term investment Purchase of equipment 61 Net cash flows 62 63 Financing activities: 64 Repayment of notes payable 65 Sale of bonds payable 66 Sale of common stock 67 Payment of dividends 68 Net cash flows 69 70 Net increase in cash 71 Totals 72 73 74 75 D E F WRIGHT COMPANY 380 (130) (45) (40) (12) (3) (70) 80 12 H B WRIGHT COMPANY Statement of Cash Flows For year ended December 31, 2021 (in $000) Cash flows from operating activities: Cash inflows: From customers Cash outflows: To suppliers of goods To employees For interest For income taxes Net cash flows from operating actives + Cash flows from Investing activities: Sale of land Purchase of short-term investment Purchase of equipment Net cash flows from investing activities Cash flows from financing activities: Repayment of notes payable Sale of bonds payable Sale of common stock Payment of dividends Net cash flows from financing activities Net Increase in cash Cash balance, January 1 Cash balance, December 31 Paste Arial BIU A1 fx B 1 Given Data P21-02: 2 10 A A NU V Given Data P21-02: A C D E F 434 WRIGHT COMPANY 5 Balance Sheet and Income Statement 6 data are given in the problem., 7 8 Additional information: 9 Original land cost 10 Land selling price 11 Common stock purchase 12 New equipment cost 13 Note payment, 1/1/2021 14 Bond sale, 1/1/2021 $ SSSSSS $ 10,000 7,000 $ 25,000 $ 150,000 30,000 60,000 15 Common stock sold S 76,000 16 Common stock par 17 Net income 18 Cash dividends paid sss $ 50,000 $ 80,000 $ 35,000 19 24 25 27 29 34 36 42 2222222222232232ENREEN=