Complete the Statement of Cash Flows, Indirect method using the (4) pages of information provided. I have completed the majority of the Statement of Cash Flows but my numbers are not matching up.

QUIZ#5 - BFIN 2110 ZEBRA CORPORATION INCOME STATEMENT - 12-31-2020 1. SALES 15,337,000 2. COST OF GOODS SOLD (9,960,000) 3. GROSS PROFIT 5,377,000 4. SELLING, GENERAL & ADMINISTRATIVE X (4,786, 123) 5. RESEARCH & DEVELOPMENT X (354,333) 6. DEPRECIATION & AMORTIZATION X (122, 558) 9 7. OPERATING INCOME (OPERATING PROFIT) 113,986 8. OTHER INCOME (EXPENSE) (75, 332) 9. EARNINGS BEFORE INTEREST & TAXES (EBIT) 38, 654 10. INTEREST INCOME (EXPENSE) 10,445 11. EARNINGS BEFORE TAXES (EBT) [PRETAX INCOME] 49,099 12. TAXES (12,275) 13. EARNINGS AFTER TAXES (EAT) [NET INCOME] 36,824 14. PREFERRED STOCK DIVIDENDS (2,000) 15. EARNINGS AVAILABLE TO COMMON STOCKHOLDERS (NET INCOME APPLICABLE TO COMMON) (NET PROFIT) (NET EARNINGS) 34,824 3 16. COMMON SHARES OUTSTANDING 10000 17. EARNINGS PER SHARE (EPS) 3.48 18. DILUTED EARNINGS PER SHARE (11,000 SHARES) 3.17Note - Other Income [Expense] is comprised of items such as receiving dividends, gains and losses on the sale of marketable securities, gains and losses on the sale of investments, gains and losses on currency transactions, bank charges, gains and losses on the sale of fixed assets. Sometimes interest income and interest expense is in this category, but there is a separate category on the Income Statement for these items - Interest Income (Expense). Other Income (Expense) consists of non- regular occurring items. Diluted Earnings Per Share refers to the increase in shares outstanding from the effects of stock options, warrants, convertible preferred stock and convertible bonds. There are 11,000 shares if the stock options, warrants, convertible preferred stock and convertible bonds are initiated. ZEBRA CORPORATION BALANCE SHEET 12-31-2019 & 2020 ASSETS 2019 2020 CURRENT ASSETS Cash 285,397 $ - 298,765 Accounts Receivable 384,765 $ - 395, 765 8 - 1 1 10V6 Inventory 425,987 $ - 415, 554 7- 1 10 433Total Current Assets Investments 1,096,149 $ 1,110,084 50,557 54,557 Equipment, Net 1,261,276 $ 1,373,440 TOTAL ASSETS 2,407,982 $ 2,538,081 LIABILITIES CURRENT LIABILITIES Accounts Payable 38,559 $- 39,437 - 878 Notes Payable 150,000 $ 120,000 30,000 Accrued Liabilities 32,454 35,543 - - 3089 Income Tax Payable 32 , 778 $ 38,556- - 5778 Total Current Liabilities 253,791 $ 233,536 LONG TERM LIABILITIES Bonds Payable 854,889 843,228 TOTAL LIABILITIES 1,108,680 $ 1,076,764 STOCKHOLDERS EQUITY Preferred Stock 40,000 $ 40,000 Common Stock 932,305 1,112,410 Retained Earnings 375,555 $ 360,465 Treasury Stock (48,558) $ (51,558) Stockholders Equity 1,299,302 $ 1,461,317 TOTAL LIABILITIES & STOCKHOLDERS EQUITY 2,407,982 $ 2,538,081Go to the Indirect Method Cash Flow Statement Template. Additional Data to Complete the Cash Flow Statement. A. Sale of Equipment (book value, $34,000) for $20,000 in 2020 resulting in a $14,000 Loss. B. Sale of Equipment (book value, $40,000) for $50,000 in 2020 resulting in a $10,000 Gain. C. Sale of Investment costing $10,000 for $18,800 resulting in a $8,800 Gain. D. Sale of Investment costing $15,500 for $10,500 resulting in a $5,000 Loss. E. Purchase of Investment costing $29,500 in 2020. F. Purchase of equipment for $186,164 in 2020. G. Issuance of Common Stock for $180,105 in 2020. H. Sale of Treasury Stock for $12,000 in 2020. 1. Purchase of Treasury Stock for $15,000 2020. J. Issuance of Bonds Payable for $10,000 in 2020. K. Payment of Bonds Payable for $158,223 in 2020. L. Payment of Dividends to Common Shareholders of $35,910 in 2020. 1) Complete the Indirect Method Cash Flow Statement using all of the above data. Use the Cash Flow Statement Template Provided in Another File. END-Quiz#5.CR CORPORATION & XYZ CORPORATION STATEMENT OF CASH FLOWS - INDIRECT METHOD For the Year Ended December 31, 2020 Cash Flows From Operating Activities Net Earnings 24, 824 $ Adjustments to determine cash flow from Operating Activities + Depreciation/Amortization Expense $ 122.558 + Loss on Sale of Long-Term Assets & Inv $ 19, 080 0 7 4, 870 -Gain on Sale of Long-Term Assets & Inv $ ( 18.800 -Increases in Current Assets Other Than Cash $ 1/2 4133 + Decreases in Current Assets Other Than Cash Iway ems + Increases in Current Liabilities her -Decreases in Current Liabilities $ 35, 778 Of ( 242 22) Net Cash Provided By or Used For (Operating Activities) Cash Flows From Investing Activities 37391 + Sales of Long-Term Assets (Land, Building, Equipment, etc.) $ 70,ON0 - Purchases of Long-Term Assets (Land, $1 186, 164) Building, Equipment, etc.) + Sales of Investments (Stocks & Bonds) $29 300 - Purchases of Investments (Stocks & Bonds) $ 1 29 520) Net Cash Provided By or Used For (Investing Activities) $ Cash Flows From Financing Activities + Issuance of Stock $ 180, 105 + Sale of Treasury Stock $12,600 - Purchase of Treasury Stock $ 15,100 + Issuance of Bonds Payable or Borrowing of $ 10 DUD Notes Payable19 144 4 % DII 15 & 12 prt sc O -Payment of Notes or Bonds Payable $ ( 158 , 223) -Payment of Dividends $ ( 35, 910) Net Cash Provided By or Used For (Financing Activities) S Should Net Increase or Decrease in Cash During the Year (Add Operating, Investing, Financing Activities) $ 3360 Cash Balance at End of Year 2019 (Beginning of Year 2020) S 13 t. Cash Balance at End of Year 2020 S Use this template when working through Exercise#4 & #5 - BFIN 2110