Question: Please download listed below link and prepare Cash Flow Statement using indirect Method of the Income Statement The following information is available for the XYZCompany
Please download listed below link and prepare Cash Flow Statement using indirect Method of the Income Statement
The following information is available for the XYZCompany
Cash 20x2 29,568 20x1 27,648
Balance Sheets At December 31 20X2 20X1 Assets: Cash Accounts receivable Merchandise inventory $ 29,568 $ 27,648 38,616 35,280 87,750 74,052 XYZ Company Income Statement For Year Ended December 31, 20X2 Sales Cost of goods sold Depreciation expense Other operating expenses Interest expense Other guins (losses) Loss on sale of equipment Income before taxes Income taxes expense Net income S288,000 $97,080 35,280 57,600 2.400 (192,360 Long-term investments Machinery Accumulated depreciation 67,080 67,680 210,600 174,600 (40,260 (37,440 (10,080) 85,560 33.180 S $2380 Total assets $393,3548341,820 Liabilities: Accounts payable Income taxes payable Bonds payable Total liabilities Equity: Common stock Paid-in capital in excess of par Retained earnings $ 78,000||$ 48,456 12,870 12,240 58,500 79,200 $149,370||$139,896 Additional information: (1) There was no gain or loss on the sales of the long-term investments, nor on bonds retired. (2) Old machinery with an original cost of $45,060 was sold for $2,520 cash, (3) New machinery was purchased for $81,060 cash. (4) Cash dividends of $40,320 were paid. (5) Additional shares of stock were issued for cash. Prepare a complete statement of cash flows for calendar-year 20X2 using the indirect mcthod. 140,400 115,200 15,600 10,800 87.984 75,924 $243,984 $201.924 $393,354 $341,820 Total equity Total liabilities and equity
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