Chapter 12 Homework Help Save QS 12-19 Indirect: Preparing statement of cash flows LO P1, P2, P3 20 Y INC Comparative Balance Sheets December 31, 2018 and 2017 2018 2017 Cash Accounts receivable, net Inventory Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Salaries payable Total current liabilities 53,800 53,900 13,400 16,400 120,100 94,800 165,100 56,100 187,300 66,500 (30,100) (20,700) Print $223,700 $200,500 s 32,000 34,400 800 35,200 600 32,600 References 159,400 147,900 17,400 $223,70o $200,500 Common stock, no par value 31,700 Total liabilities and equity $ 60,900 25,300 Cost of gooda sold 35, 600 Depreciation expense other expenses 9,400 7.400 16,80 Total operating expense 18,800 s 14,300 Help Save&Exit Submit Salen For Year Eement Cost of goods sold Gross profit Operating expenses 20 r Year Ended December 31, 2018 $ 60,900 (25,300) 35,600 Depreciation expense 9,400 7.400 other expenses Total operating expense Income before taxes Income tax expense Net income 16,800 18,800 4.500 14,300 Additional Information References a. No dividends are declared or paid in 2018 b. Issued additional stock for $11,500 cash in 2018 c. Purchased equipment for cash in 2018; no equipment was sold in 2018. 1. Use the above financial statements and additional information to prepare a statement of December 31, 2018, using the indirect method. (Amounts to be deducted cash flows for the year ended indicated by a minus sign) should be 18, using the indirect method. (Amounts to Statement of Cash Flows (Indirect Method) De r 31, 2018 Cash flows from 14. net income to net cash provided by operations Adjustments to Prev 1016 Next > ERY, INC. 20 31, 2018 14