prepare a complete statement of cash flows using the direct method disclose any noncash investing

Brown Company's current-year income statement, comparative balance sheets and additional information follow For the year. (1)all sales are credit sales, (2) all credits to Accounts Receivable reflect receipts from customers. (3) all purchases of inventory ate on credit, and (4) all debits to Accounts Payable reflect cash payments for inventory. Brown COMPANY Income Statement For Current Year Ended December 31 Prior Sales 582,500 285.000 297.500 Broen COMPANY Comparative Blue Shorts At December 31 Current Year Assets Cash 49,800 Accounts Receivable 65,810 Inventory . 275,656 Prepaid expenses 1.250 Total Current assets 392 516 Equipment 157.500 Accum. Depreciation Equipment -36,625 Total Assets $13.91 132,400 20,7501 Cost of goods sold Gross pront Operating expenses (excluding depreciation) Depreciation expense Other gains (lesses) Loss on sale of equipment Income before taxes Income taxes expense Net income 153.150 3.125 139.225 24.250 114.975 Liabilities and Equity Accounts payable Long-term notes payable Total liabilities 53.141 75.000 128,141 Additional Information on Current-Year Transactions . The loss on the cash sale of equipment was 35.125 (details in B. Sold equipment costing 546.875, with accumulated depreciation of $30.125. for $11,625 cash c. Purchased equipment costing 596,375 by paying $10,000 cash and signing long-term cotes payable for the balance. d. Paid $46,125 cash to reduce the long-term notes payable e Issued 2.500 shares of common stock for $20 cash per share Declared and paid cash dividends of $50,100. Equity Common stock. SS par value Paid in capital in excess of par. common stock Retained earnings Tocal liabilities and equity... 162.750 37.500 INS.CO $13. 191 Instructions: Complete the questions below. Show your work to cach question in the curresponding tals in this Excel warkook Slate your name in the highlighted call antrachtet with your selteni. Save this Excel war Abood wsing the following using convenien: Excel Project-Cash Flow Lan Vene_Firsinitial The form and presentation of your work contribute towards your grade Submit the complete wronk wa Cames by 11:59 pm on 7/31/21. Required I Prepare a cash flow workshoetto aid in the preparation of the statement of cash flows using the indirect methal (25 pts.) Refer to the information reported about Brown Company above and the following list of transactions and events Identify the debits and credits in the Analysis of Changes columns with letters that correspond to the following list of transactions and events. 4. Net Income was $114,975 # Sold equipment conting 346,895, with accumulated depreciation of 530,125, for $11.625 cash. This yielded as loss of $5,125, b. Accounts receivable increased Purchased equipment conting 596.375 by paying $40.000 cash and e. Inventory increased O by signing a long-term notes payable for the balance d. Prepaid expenses de J.Paid $46,125 cash to reduce the long-term notex payable c. Accounts payable decreased Issued 2.500 shares of common stock for $20 cash per share . Depreciation expense was $20.750 1. Declared and paid cash dividends of $50,100 2. Prepare a complete statement of cash flows using the indirect method for the current year Disclose any noncash investing and financing activities in a note. (1 pts.) 2b. Analyze and discuss the statement of cash flow prepared in part 2, piving special attention to the wisdom of the cash dividend payment. (5 pts.) Prepare a complete statement of cash flows using the rect method. Disclow any soncash investing and financing activities in a note (15pts.) 12 Realth lam COMPANY OY - I Mala -- C. O NAS Barani 2010 I als T NINAI TN 05125 In D125 MAADA . 2038 Net Mail ura - - 4 Saha NJTS o milar ar are teme 3 2.500 5200 tamil islatitis a als, Tn to enlare arise iiii atest palle has. Had E 2 2.00 m 20 persen Depeel. Declarada pada de 60 a hapart tatara 1 May information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, Brown COMPANY Brown COMPANY Income Statement Comparative Balance Sheets or Current Year Ended December 3 At Decem Current Year Prior Year Sales ..... 582,500 Assets Cost of goods sold 285,000_Cash ......$ 49,800 $ 73,500 Gross profit.. 297,500 Accounts 65,810 50,625 Operating expenses $ 132,400 Inventory 275,656 251,800 Depreciation expens 20.750 153,150 Prepaid es 1,250 1,875 Other gains (losses) Total Cun 392,516 377,800 Loss on sale of equipment (5.125) Equipmen 157,500 108,000 Income before taxes 139,225 Accum. D (36,625) (46,000) Income taxes expense 24,250 Total Ass: $ 513,391 S 439,800 Net income 114,975 Liabilities and Equity Additional Information on Current-Year Tran Accounts $ 53,141 S 114,675 a. The loss on the cash sale of equipment was $5. Long-term 75,000 54,750 b. Sold equipment costing $46,875, with accumul. Total liabi 128,141 169,425 for $11,625 cash. c. Purchased equipment costing $96,375 by payin Equity a long-term notes payable for the balance. Common 162,750 150,250 d. Paid S46,125 cash to reduce the long-term note Paid-in ca 37,500 0 e. Issued 2,500 shares of common stock for $20 a Retained 185,000 120,125 1. Declared and paid cash dividends of $50,100. Total liabi S $13,391 $ 439,800 Instructions: Complete the questions below. Show your work to each question in the corresponding tabs in this Excel State your name in the highlighted cell on each sheet with your solution. Save this Excel workbook using the following naming convention: Excel Projectl-Cash Flows_LastNam The form and presentation of your work contribute towards your grade Submit the completed workbook via Canvas by Required: 1 Prepare a cash flow worksheet to aid in the preparation of the statement of cash flows using the indir Refer to the information reported about Brown Company above and the following list of transactions Identify the debits and credits in the Analysis of Changes columns with letters that correspond to the a. Net ino g. Sold equipment costing S46,875, with accumulated depreciation of S30,125, for $11,62: b. Accour h. Purchased equipment costing S96,375 by paying $30,000 cash and c. Invento () by signing a long-term notes payable for the balance. d. Prepaidj. Paid S46,125 cash to reduce the long-term notes payable. e. Accounk. Issued 2,500 shares of common stock for $20 cash per share. 1. Depreci I. Declared and paid cash dividends of S50,100. 2a. Prepare a complete statement of cash flows using the indirect method for the current year. Disclose 2b. Analyze and discuss the statement of cash flows prepared in part 2a, giving special attention to the w 3 Prepare a complete statement of cash flows using the direct method. Disclose any noncash investing Prior Year Brown COMPANY Comparative Balance Sheets At December 31 Current Year Assets Cash $ 49,800 Accounts Receivable 65,810 Inventory 275,656 Prepaid expenses 1,250 Total Current assets 392,516 Equipment 157,500 Accum. Depreciation Equipment (36,625) Total Assets $ 513,391 $ 73,500 50,625 251,800 1,875 377,800 108,000 (46,000) $ 439,800 Liabilities and Equity Accounts payable Long-term notes payable Total liabilities $ 53.141 75,000 128,141 $ 114,675 54,750 169,425 Equity Common stock, $5 par value Paid-in capital in excess of par, common stock Retained earnings Total liabilities and equity 162,750 37,500 185,000 $ 513,391 150,250 0 120,125 $ 439,800 Brown COMPANY Income Statement For Current Year Ended December 31 $ 582,500 285,000 297,500 $ 132,400 20,750 153,150 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense. Other gains (losses) Loss on sale of equipment Income before taxes Income taxes expense Net income (5.125) 139,225 24,250 $ 114,975 5 6 7 28 09 30 31 Additional Information on Current-Year Transactions a. The loss on the cash sale of equipment was $5.125 (details in 6). b. Sold equipment costing $46,875, with accumulated depreciation of $30,125, for $11,625 cash c. Purchased equipment costing $96,375 by paying $30,000 cash and signing a long-term notes payable for the balance. d. Paid $46,125 cash to reduce the long-term notes payable. e. Issued 2,500 shares of common stock for $20 cash per share. f. Declared and paid cash dividends of $50,100, Prior Year Brown COMPANY Comparative Balance Sheets At December 31 Current Year Assets Cash $ 49,800 Accounts Receivable 65,810 Inventory 275,656 Prepaid expenses 1,250 Total Current assets 392,516 Equipment 157,500 Accum. Depreciation Equipment (36,625) Total Assets $ 513,391 $ 73,500 50,625 251,800 1,875 377,800 108,000 (46,000) $ 439,800 Liabilities and Equity Accounts payable Long-term notes payable Total liabilities $ 53.141 75,000 128,141 $ 114,675 54,750 169,425 Equity Common stock, $5 par value Paid-in capital in excess of par, common stock Retained earnings Total liabilities and equity 162,750 37,500 185,000 $ 513,391 150,250 0 120,125 $ 439,800 Brown COMPANY Income Statement For Current Year Ended December 31 $ 582,500 285,000 297,500 $ 132,400 20,750 153,150 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense. Other gains (losses) Loss on sale of equipment Income before taxes Income taxes expense Net income (5.125) 139,225 24,250 $ 114,975 5 6 7 28 09 30 31 Additional Information on Current-Year Transactions a. The loss on the cash sale of equipment was $5.125 (details in 6). b. Sold equipment costing $46,875, with accumulated depreciation of $30,125, for $11,625 cash c. Purchased equipment costing $96,375 by paying $30,000 cash and signing a long-term notes payable for the balance. d. Paid $46,125 cash to reduce the long-term notes payable. e. Issued 2,500 shares of common stock for $20 cash per share. f. Declared and paid cash dividends of $50,100, Brown Company's current-year income statement, comparative balance sheets and additional information follow For the year. (1)all sales are credit sales, (2) all credits to Accounts Receivable reflect receipts from customers. (3) all purchases of inventory ate on credit, and (4) all debits to Accounts Payable reflect cash payments for inventory. Brown COMPANY Income Statement For Current Year Ended December 31 Prior Sales 582,500 285.000 297.500 Broen COMPANY Comparative Blue Shorts At December 31 Current Year Assets Cash 49,800 Accounts Receivable 65,810 Inventory . 275,656 Prepaid expenses 1.250 Total Current assets 392 516 Equipment 157.500 Accum. Depreciation Equipment -36,625 Total Assets $13.91 132,400 20,7501 Cost of goods sold Gross pront Operating expenses (excluding depreciation) Depreciation expense Other gains (lesses) Loss on sale of equipment Income before taxes Income taxes expense Net income 153.150 3.125 139.225 24.250 114.975 Liabilities and Equity Accounts payable Long-term notes payable Total liabilities 53.141 75.000 128,141 Additional Information on Current-Year Transactions . The loss on the cash sale of equipment was 35.125 (details in B. Sold equipment costing 546.875, with accumulated depreciation of $30.125. for $11,625 cash c. Purchased equipment costing 596,375 by paying $10,000 cash and signing long-term cotes payable for the balance. d. Paid $46,125 cash to reduce the long-term notes payable e Issued 2.500 shares of common stock for $20 cash per share Declared and paid cash dividends of $50,100. Equity Common stock. SS par value Paid in capital in excess of par. common stock Retained earnings Tocal liabilities and equity... 162.750 37.500 INS.CO $13. 191 Instructions: Complete the questions below. Show your work to cach question in the curresponding tals in this Excel warkook Slate your name in the highlighted call antrachtet with your selteni. Save this Excel war Abood wsing the following using convenien: Excel Project-Cash Flow Lan Vene_Firsinitial The form and presentation of your work contribute towards your grade Submit the complete wronk wa Cames by 11:59 pm on 7/31/21. Required I Prepare a cash flow workshoetto aid in the preparation of the statement of cash flows using the indirect methal (25 pts.) Refer to the information reported about Brown Company above and the following list of transactions and events Identify the debits and credits in the Analysis of Changes columns with letters that correspond to the following list of transactions and events. 4. Net Income was $114,975 # Sold equipment conting 346,895, with accumulated depreciation of 530,125, for $11.625 cash. This yielded as loss of $5,125, b. Accounts receivable increased Purchased equipment conting 596.375 by paying $40.000 cash and e. Inventory increased O by signing a long-term notes payable for the balance d. Prepaid expenses de J.Paid $46,125 cash to reduce the long-term notex payable c. Accounts payable decreased Issued 2.500 shares of common stock for $20 cash per share . Depreciation expense was $20.750 1. Declared and paid cash dividends of $50,100 2. Prepare a complete statement of cash flows using the indirect method for the current year Disclose any noncash investing and financing activities in a note. (1 pts.) 2b. Analyze and discuss the statement of cash flow prepared in part 2, piving special attention to the wisdom of the cash dividend payment. (5 pts.) Prepare a complete statement of cash flows using the rect method. Disclow any soncash investing and financing activities in a note (15pts.) 12 Realth lam COMPANY OY - I Mala -- C. O NAS Barani 2010 I als T NINAI TN 05125 In D125 MAADA . 2038 Net Mail ura - - 4 Saha NJTS o milar ar are teme 3 2.500 5200 tamil islatitis a als, Tn to enlare arise iiii atest palle has. Had E 2 2.00 m 20 persen Depeel. Declarada pada de 60 a hapart tatara 1 May information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, Brown COMPANY Brown COMPANY Income Statement Comparative Balance Sheets or Current Year Ended December 3 At Decem Current Year Prior Year Sales ..... 582,500 Assets Cost of goods sold 285,000_Cash ......$ 49,800 $ 73,500 Gross profit.. 297,500 Accounts 65,810 50,625 Operating expenses $ 132,400 Inventory 275,656 251,800 Depreciation expens 20.750 153,150 Prepaid es 1,250 1,875 Other gains (losses) Total Cun 392,516 377,800 Loss on sale of equipment (5.125) Equipmen 157,500 108,000 Income before taxes 139,225 Accum. D (36,625) (46,000) Income taxes expense 24,250 Total Ass: $ 513,391 S 439,800 Net income 114,975 Liabilities and Equity Additional Information on Current-Year Tran Accounts $ 53,141 S 114,675 a. The loss on the cash sale of equipment was $5. Long-term 75,000 54,750 b. Sold equipment costing $46,875, with accumul. Total liabi 128,141 169,425 for $11,625 cash. c. Purchased equipment costing $96,375 by payin Equity a long-term notes payable for the balance. Common 162,750 150,250 d. Paid S46,125 cash to reduce the long-term note Paid-in ca 37,500 0 e. Issued 2,500 shares of common stock for $20 a Retained 185,000 120,125 1. Declared and paid cash dividends of $50,100. Total liabi S $13,391 $ 439,800 Instructions: Complete the questions below. Show your work to each question in the corresponding tabs in this Excel State your name in the highlighted cell on each sheet with your solution. Save this Excel workbook using the following naming convention: Excel Projectl-Cash Flows_LastNam The form and presentation of your work contribute towards your grade Submit the completed workbook via Canvas by Required: 1 Prepare a cash flow worksheet to aid in the preparation of the statement of cash flows using the indir Refer to the information reported about Brown Company above and the following list of transactions Identify the debits and credits in the Analysis of Changes columns with letters that correspond to the a. Net ino g. Sold equipment costing S46,875, with accumulated depreciation of S30,125, for $11,62: b. Accour h. Purchased equipment costing S96,375 by paying $30,000 cash and c. Invento () by signing a long-term notes payable for the balance. d. Prepaidj. Paid S46,125 cash to reduce the long-term notes payable. e. Accounk. Issued 2,500 shares of common stock for $20 cash per share. 1. Depreci I. Declared and paid cash dividends of S50,100. 2a. Prepare a complete statement of cash flows using the indirect method for the current year. Disclose 2b. Analyze and discuss the statement of cash flows prepared in part 2a, giving special attention to the w 3 Prepare a complete statement of cash flows using the direct method. Disclose any noncash investing Prior Year Brown COMPANY Comparative Balance Sheets At December 31 Current Year Assets Cash $ 49,800 Accounts Receivable 65,810 Inventory 275,656 Prepaid expenses 1,250 Total Current assets 392,516 Equipment 157,500 Accum. Depreciation Equipment (36,625) Total Assets $ 513,391 $ 73,500 50,625 251,800 1,875 377,800 108,000 (46,000) $ 439,800 Liabilities and Equity Accounts payable Long-term notes payable Total liabilities $ 53.141 75,000 128,141 $ 114,675 54,750 169,425 Equity Common stock, $5 par value Paid-in capital in excess of par, common stock Retained earnings Total liabilities and equity 162,750 37,500 185,000 $ 513,391 150,250 0 120,125 $ 439,800 Brown COMPANY Income Statement For Current Year Ended December 31 $ 582,500 285,000 297,500 $ 132,400 20,750 153,150 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense. Other gains (losses) Loss on sale of equipment Income before taxes Income taxes expense Net income (5.125) 139,225 24,250 $ 114,975 5 6 7 28 09 30 31 Additional Information on Current-Year Transactions a. The loss on the cash sale of equipment was $5.125 (details in 6). b. Sold equipment costing $46,875, with accumulated depreciation of $30,125, for $11,625 cash c. Purchased equipment costing $96,375 by paying $30,000 cash and signing a long-term notes payable for the balance. d. Paid $46,125 cash to reduce the long-term notes payable. e. Issued 2,500 shares of common stock for $20 cash per share. f. Declared and paid cash dividends of $50,100, Prior Year Brown COMPANY Comparative Balance Sheets At December 31 Current Year Assets Cash $ 49,800 Accounts Receivable 65,810 Inventory 275,656 Prepaid expenses 1,250 Total Current assets 392,516 Equipment 157,500 Accum. Depreciation Equipment (36,625) Total Assets $ 513,391 $ 73,500 50,625 251,800 1,875 377,800 108,000 (46,000) $ 439,800 Liabilities and Equity Accounts payable Long-term notes payable Total liabilities $ 53.141 75,000 128,141 $ 114,675 54,750 169,425 Equity Common stock, $5 par value Paid-in capital in excess of par, common stock Retained earnings Total liabilities and equity 162,750 37,500 185,000 $ 513,391 150,250 0 120,125 $ 439,800 Brown COMPANY Income Statement For Current Year Ended December 31 $ 582,500 285,000 297,500 $ 132,400 20,750 153,150 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense. Other gains (losses) Loss on sale of equipment Income before taxes Income taxes expense Net income (5.125) 139,225 24,250 $ 114,975 5 6 7 28 09 30 31 Additional Information on Current-Year Transactions a. The loss on the cash sale of equipment was $5.125 (details in 6). b. Sold equipment costing $46,875, with accumulated depreciation of $30,125, for $11,625 cash c. Purchased equipment costing $96,375 by paying $30,000 cash and signing a long-term notes payable for the balance. d. Paid $46,125 cash to reduce the long-term notes payable. e. Issued 2,500 shares of common stock for $20 cash per share. f. Declared and paid cash dividends of $50,100