method. spreadsheet, leave the box empty; do not select a label or enter a zero. Do not check your answer until both Panel A and Panel B have been completed. Abbreviations used: * More Info X Data Table X Supplements Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue c. a. Acquisition of plant assets is $122,000. Of this amount, $110,000 is paid in cash and $12,000 by signing a note payable. b. Cash receipt from sale of land totals $22,000. There was no gain or loss. Cash receipts from issuance of common stock total $28,000. d. Payment of note payable is $11,000. e. Payment of dividends is $10,000. f. From the balance sheet: $ 240,000 93,000 Cost of Goods Sold September 30 2018 2017 147,000 Gross Profit Operating Expenses: Cash Salaries Expense $ 59,000 29,000 Depreciation ExpensePlant Assets 88,000 Total Operating Expenses Net Income Before Income Taxes 59,000 7,000 Accounts Receivable Merchandise Inventory Land Plant Assets Accumulated Depreciation Accounts Payable Accrued Liabilities Notes Payable (long-term) Common Stock, no par , Retained Earnings $ 40,000 $ 22,000 44,000 55,000 92,000 89,000 75,000 97,000 187,000 65,000 (61,000) (32,000) 22,000 15,000 20,000 12,000 11,000 39,000 11,000 274,000 232,000 Income Tax Expense 37,000 $ 52,000 Net Income Print Done $ 377,000 Print Done Done The income statement and additional data of Supplements Plus, Inc. follow: Click the icon to view the income statement.) (Click the icon to view the additional data.) Prepare the spreadsheet for the 2018 statement of cash flows. Format cash flows from operating activities by the indirect method. Use the transaction references in Panel B when selecting the transaction references in Panel A. (lf a box is not used in the spreadsheet, leave the box emp Acquistion of Plant Assets by Issuing NP = Acquisition of Plant Assets by Issuing Note Payable.) Balance 9/30/2018 Supplements Plus, Inc. Spreadsheet for Statement of Cash Flows Year Ended September 30, 2018 Balance Transaction Analysis Panel A-Balance Sheet: 9/30/2017 DEBIT CREDIT Cash $ 22,000 18,000 Accounts Receivable 55,000 11,000 Merchandise Inventory 89,000 3,000 Plant Assets 65,000 100000 22000 $ 40,000 44,000 92,000 187,000 Accumulated DepreciationPlant Assets 29,000 (32,000) 97,000 (61,000) 75,000 Land 36000 $ Total Assets $ 296,000 377,000 Accounts Payable 22,000 15,000 37,000 Accrued Liabilities 5,000 20.000 11,000 15,000 12,000 Notes Payable 11,000 12,000 Total Liabilities 53,000 64,000 Common Stock, no par 11,000 28,000 39,000 274,000 Retained Earnings 232,000 $ 296,000 $ Total Liabilities and Stockholders' Equity 377,000 Panel B-Statement of Cash Flows: Cash Flows from Operating Activities: Net Income (a) (b) Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Depreciation ExpensePlant Assets Decrease in Accounts Receivable Increase in Merchandise Inventory Increase in Accounts Payable Decrease in Accrued Liabilities (c) (d) (e) (1) (91) (h) Net Cash Provided by Operating Activities Cash Flows from Investing Activities: Cash Payment for Acquisition of Plant Assets Cash Receipt for Sale of Land Net Cash Used for Investing Activities Cash Flows from Financing Activities: Cash Payment of Notes Payable Cash Receipt from Issuance of Common Stock Cash Payment of Dividends Net Cash Used for Financing Activities Net Increase in Cash 0) (0) (k) (1) Non-cash Investing and Financing Activities: Acquisition of Plant Assets by Issuing NP (92) Total Non-cash Investing and Financing Activities (92) Total