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. I believe my mistake is in the operating activities section.

Quiz#4 - BFIN 2110 TUCKER CORPORATION INCOME STATEMENT - 12-31-2020 1. SALES 725,644 2. COST OF GOODS SOLD (462,000) 3. GROSS PROFIT 263,644 4. SELLING, GENERAL & ADMINISTRATIVE X (198,000) 5. RESEARCH & DEVELOPMENT X (20,000) 6. DEPRECIATION & AMORTIZATION X (25,000) 7. OPERATING INCOME (OPERATING PROFIT) 20,644 8. OTHER INCOME (EXPENSE) (4,000) 9. EARNINGS BEFORE INTEREST & TAXES (EBIT) 16,644 10. INTEREST INCOME (EXPENSE) (3,000) 11. EARNINGS BEFORE TAXES (EBT) [PRETAX INCOME] 13,644 12. TAXES (3, 275) 13. EARNINGS AFTER TAXES (EAT) [NET INCOME] 10,369 14. PREFERRED STOCK DIVIDENDS (400) 15. EARNINGS AVAILABLE TO COMMON STOCKHOLDERS (NET INCOME APPLICABLE TO COMMON) (NET PROFIT) (NET EARNINGS) 9,969 16. COMMON SHARES OUTSTANDING 8000 17. EARNINGS PER SHARE (EPS) 1.25 18. DILUTED EARNINGS PER SHARE (8,300 SHARES) 1.20Note - 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 8,300 shares if the stock options, warrants, convertible preferred stock and convertible bonds are initiated. TUCKER CORPORATION BALANCE SHEET 12-31-2019 & 2020 ASSETS 2019 2020 CURRENT ASSETS Cash 4,200 $ 5,857 Accounts Receivable 19,245 $ 21,599 2354 Inventory 32,555 30,444 (2 , 111 )Total Current Assets Investments 56,000 $ 57,900 Equipment, Net 5 , 388 S 10,000 TOTAL ASSETS 75,267 S 80,223 136,655 148,123 LIABILITIES CURRENT LIABILITIES Accounts Payable 22,200 S 18,145 Notes Payable - 4055 35,765 $ 10,000 Accrued Liabilities = 25,745 6,050 ur 6,298 Income Tax Payable 10,475 11,299 $ 248 Total Current Liabilities 74,490 $ 45,742 LONG TERM LIABILITIES Bonds Payable 25,000 40,000 9 = 4 3 03 TOTAL LIABILITIES 99,490 $ 85,742 STOCKHOLDERS EQUITY Preferred Stock 8,000 $ 8,000 Common Stock 15,000 un 23,970 Retained Earnings 18,942 38, 456 Treasury Stock (4, 777) $ (8,045) Stockholders Equity 37,165 $ 62,381 TOTAL LIABILITIES & STOCKHOLDERS EQUITY 136,655 $ 148,123Go to the Indirect Method Cash Flow Statement Template. Additional Data to Complete the Cash Flow Statement. A. Sale of Equipment (book value, $50,000) for $46,000 in 2020 resulting in a $4,000 Loss. B. Sale of Equipment (book value, $22,000) for $27,000 in 2020 resulting in a $5,000 Gain. C. Sale of Investment costing $2,000 for $3,000 resulting in a $1,000 Gain. D. Sale of Investment costing $3,000 for $2,500 resulting in a $500 Loss. E. Purchase of Investment costing $9,612 in 2020. F. Purchase of equipment for $91,511 in 2020. G. Issuance of Common Stock for $8,970 in 2020. H. Sale of Treasury Stock for $4,000 in 2020. 1. Purchase of Treasury Stock for $7,268 2020. J. Issuance of Bonds Payable for $25,000 in 2020. K. Payment of Bonds Payable for $10,000 in 2020. L. Payment of Dividends to Common Shareholders of $900 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#4.TUCKER CORPORATION & ZEBRA CORPORATION STATEMENT OF CASH FLOWS - INDIRECT METHOD For the Year Ended December 31, 2020 Cash Flows From Operating Activities Net Earnings $ Adjustments to determine cash flow from 9, 969 Operating Activities + Depreciation/Amortization Expense $ 25, W0 + Loss on Sale of Long-Term Assets & Inv $ 4 500 -Gain on Sale of Long-Term Assets & Inv $ ( 4,000 ) -Increases in Current Assets Other Than Cash $ (2,354) + Decreases in Current Assets Other Than Cash $ 2ill1 + Increases in Current Liabilities $ 13807 -Decreases in Current Liabilities $ 24 941 Net Cash Provided By or Used For (Operating Activities) S Should be $4478 Cash Flows From Investing Activities + Sales of Long-Term Assets (Land, Building, Equipment, etc.) $ 73,000 - Purchases of Long-Term Assets (Land, $ ( 91,5 11 Building, Equipment, etc.) + Sales of Investments (Stocks & Bonds) $ 5 500- Purchases of Investments (Stocks & Bonds) Net Cash Provided By or Used For (Investing Activities) $ ( 9,412) ( 22 , 623 ) Cash Flows From Financing Activities + Issuance of Stock $ 9 to + Sale of Treasury Stock $ 14 000 - Purchase of Treasury Stock $ ( 7 260 ) + Issuance of Bonds Payable or Borrowing of $ 25.010 Notes Payable -Payment of Notes or Bonds Payable -Payment of Dividends $ 1900) Net Cash Provided By or Used For (Financing Activities) S 19, 802 Net Increase or Decrease in Cash During the Year (Add Operating, Investing, Financing Activities) S should be 1657 Cash Balance at End of Year 2019 (Beginning of Year 2020) S 4, 200 Cash Balance at End of Year 2020 S 5,857 Use this template when working through Quiz#4 & #5 - BFIN 2110