Answer Happy

eBook Use the following excerpts from Victrolia Company's financial information. Sales Cost of Goods Sold Operating Expenses, other than Depreciation Expense Depreciation Expense Gain on Sale of Plant Assets Net Income Cash Accounts Receivable Inventory Accounts Payable Accured Liabilities Cash Accounts Receivable Inventory Accounts Payable Accured Liabilities 2018 Income Statment $475,000 (221,500) Additional Information: Plant assets were sold for $40,000; book value $16,500 Dividends of $24,000 were declared and paid Check My Work (58,600) (20,000) 23,500 $198,400 Balance Sheets Dec. 31,2018 $345,450 39,750 30,000 17,550 3,500 Dec. 31, 2017 $133,500 36,500 35,000 19,550 2,200
SO eBook Additional Information: Plant assets were sold for $40,000; book value $16,500 Dividends of $24,000 were declared and paid Prepare a statement of cash flows (direct method) for the year 2018. Use the minus sign to indicate cash out flows, a decrease in cash or cash payments. Victrolia Company Statement of Cash Flows (Direct Method) For the Year Ended December 31, 2018 Cash Flow from Operating Activities: Cash Payments: Net cash flows from operating activities Cash Flow from Investing Activities: Net Cash Flow from Investing Activities Cash Flow from Financing Activities: Net Cash Flow from Financing Activities Cash Balance, December 31, 2017 Cash Balance, December 31, 2018 85 Check My Work 00 0 0000 Subm