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= Homework: Chapter 13 Homework Question 10, P13-39A (si... Part 1 of 6 HW Score: 67.96%, 13.59 of 20 points Points: 0.24 of 6 Save The 2021 and 2020 balance sheets of West Corporation follow. The 2021 income statement is also provided. West had no noncash investing and financing transactions during 2021. During the year, the company sold equipment for $15,800, which had originally cost $13,700 and had a book value of S11,400. The company did not issue any notes payable during the year but did issue common stock for $30,000. The company purchased plant assets and long-term investments with cash (Click the icon to view the income statement.) Click the icon to view the balance sheets.) Requirements 1. Prepare the statement of cash flows for West Corporation for 2021 using the Indirect method 2. Evaluate the company's cash flows for the year. Discuss each of the categories of cash flows in your response. West Corporation Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2021 Operating Activities: Adjustments to reconcile net income to cash basis: Net cash provided by (used for) operating activities Help me solve this Video Get more help Clear all Check answer E Hor - X X 10, P13-39A (si... Part 1 HW Score: 67.96%, 13.59 of 20 points Save Income statement X Balance sheets 3 For the Year Ended December 31, 2021 ad no uring 1 Ent for $15,800, investments with 4 Sales revenues The 2021 and 20 which had origin cash. (Click the ide Requirements 1. Prepare the si 2. Evaluate the $ 349,000 74,000 4 Assets 2021 2020 $ 275,000 5 5 Current assets: s 51.000 S 24,000 29,700 S 6 Cash 7 Accounts receivable 7 B Inventory 26.000 31,700 36.000 93,400 5,400 3,500 15.500 9 Prepaid insurance 10 Total current assets 2,500 149,600 S Operating Ac S 172,200 S 46,900 11 5 Less: Cost of goods sold 6 Gross profit 7 Less operating expenses 8 Salaries and wages expense 9 Depreciation expense 10 Other operating expenses 11 Total operating expenses 12 Operating Income 13 Plus other income and less other expenses: 14 Interest expense 15 Gain on sale of PP&E 18 Total other income and expenses 17 Income before income taxes 18 Less: Income tax expense 19 Net income $ 228,100 Adjustments to 12 Property, plant, and equipment 13 Lass: Accumulated depreciation 150,000 (30, 100) 130,000 (27,000) S 9,500 14 Investments 115,000 4.400 S S 407,100 S 252,800 5,100 $ 223,000 15 Total assets 16 17 Liabilities 37.100 $ 185,900 18 Current liabilities: 19 Accounts payable S 33,600 S 2.500 36.900 7.100 20 Wages payable Print Done Net cash provi Print Done Help me solve this Video Get more help Clear all Check answer = Homework: Chapter 13 Homework Question 10, P13-39A (si.. Part 1 HW Score: 67.96%, 13.59 of 20 points Save X Balance sheets nt for $15,800 linvestments with The 2021 and 2020 balance sheets of West Corporation follow. The 2021 income statement is also provided. West had no which had originally cost $13,700 and had a book value of $11,400. The company did not issue any notes payable during cash (Click the icon to view the income statement.) (Click the icon to view the balance sheets.) Requirements 1. Prepare the statement of cash flows for West Corporation for 2021 using the indirect method. 2. Evaluate the company's cash flows for the year. Discuss each of the categories of cash flows in your response. s S 33.600 S 36.900 7,100 18 Current liabilities: : 19 Accounts payable 20 Wages payable 21 Interest payable 22 Income taxes payable 23 Other accrued expenses payable 24 Total current ablitles 2,500 2.600 0 5.800 0 0 West Corporation Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2021 18,600 22.000 S 62,900 S 66,000 Operating Activities: 25 26 Long-term liabilities 79.000 113.000 Adjustments to reconcile net income to cash basis: 27 Total liabilities S 141,900 $ 179,000 28 29 Stockholders' equity 101.000 71.000 30 Common stock 31 Retained earnings 32 Total stockholders' equity 164,200 2.600 S 265,200 $ 73,800 33 34 Total liabilities and equity S 407,100 S 252.600 Net cash provided by (used for) operating activities Print Done Help me solve this Video Get more help Clear all Check