Question: Please help me with this problem. The income statement and additional data of Daily Plus, Inc. follow: (Click the icon to view the income statement.)
Please help me with this problem.







The income statement and additional data of Daily 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. Daily Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ 239,000 97,000 Cost of Goods Sold Gross Profit Operating Expenses: 142,000 Salaries Expense $ 50,000 30,000 Depreciation ExpensePlant Assets 80,000 Total Operating Expenses Net Income Before Income Taxes 62,000 5,000 Income Tax Expense $ 57,000 Net Income a. Acquisition of plant assets is $115,000. Of this amount, $102,000 is paid in cash and $13,000 by signing a note payable. b. Cash receipt from sale of land totals $27,000. There was no gain or loss. Cash receipts from issuance of common stock total $28,000. d. Payment of note payable is $12,000. Payment of dividends is $6,000. f. From the balance sheet: C. e. Cash $ 33,000 $ 1,000 40,000 52,000 Accounts Receivable Merchandise Inventory 90,000 85,000 Land 72,000 99,000 Plant Assets Accumulated Depreciation Accounts Payable 170,000 55,000 (55,000) (25,000) 33,000 23,000 Accrued Liabilities 19,000 26,000 13,000 12,000 Notes Payable (long-term) Common Stock, no par Retained Earnings 33,000 5,000 252,000 201,000 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 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: Acquistion of Plant Assets by Issuing NP = Acquisition of Plant Assets by Issuing Note Payable.) Daily Plus, Inc. Spreadsheet for Statement of Cash Flows Year Ended September 30, 2018 Balance Transaction Analysis Balance Panel A-Balance Sheet: 9/30/2017 DEBIT CREDIT 9/30/2018 Cash $ 1,000 $ 33,000 Accounts Receivable Merchandise Inventory 52,000 85,000 55,000 40,000 90,000 170,000 Plant Assets Accumulated DepreciationPlant Assets (25,000) 99,000 (55,000) 72,000 Land
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