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• Create an operating section statement of cash flows using the direct and indirect methods.

Create an Operating Section Statement of Cash flows-Direct and Indirect methods - Word 0 AutoSave of HW UBE Shannon Macaulay SM - O X File Home Insert Draw Design Layout References Mailings Review View Help Table Design Layout Share Comments X Ever A a Calibri (Body) - 11 A A Aav to BI U Bb X, X? ADA AalbCcDc AabbCcDc Aabba AaBbcc AaB 1 Normal 1 No Spac. Heading 1 Heading 2 Title manics AaB Find Sc Replace hf Select Daste Dictate Sensitivity Editor Clipboard Font Styles Editing Voice Sensitivity Editor Paragraph Income Statement Year Ended Dec. 31, 2019 Sales Cost of Goods Sold Gross Margin Depreciation Expense Earnings Before Interest and Taxes Gain of the Sale of Equipment Loss on disposal of land Net Income $67,300 _24,100) 43,200 1,250) 41,950 2,900 (100) 44,750 Note 1: During 2019 equipment that had originally cost $11,000 was sold. Accumulated depreciation on the equipment was $5,000 at the time of sale. Note 2: Common stock was issued in exchange for land valued at $9,400 at the time of the exchange. Balance Sheet As of Dec. 31, 2019 Cash Accounts Receivable Inventory Equipment Accumulated Depreciation- Equipment Land Total Assets 2019 $48,400 2,200 5,600 18,000 2018 $2,800 1,200 6,000 22,000 (13,650) 17,200 77,750 (17,400) 10,400 25,000 Accounts Payable (inventory) Long-term Debt Common Stock Retained Earnings Total Liabilities and Equity 5,200 5,600 19,400 47,550 77,750 4,200 6,400 10,000 4,400 25,000 Page 1 of 2 236 words C Focus C 80% o @ Type here to search @ @ @ w T ^ * 9 -- -- () - + 7:20 PM 5/5/2020 W