Requirement 1. Prepare the 2024 Statement of Cash Flows by the direct method. (Use a minus sign or parentheses for amoun

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Requirement 1 Prepare The 2024 Statement Of Cash Flows By The Direct Method Use A Minus Sign Or Parentheses For Amoun 1 (80.71 KiB) Viewed 5 times

Requirement 1. Prepare the 2024 Statement of Cash Flows by the direct method. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.) Complete the statement one section at a time, beginning with the cash flows from operating activities. Digital Subscriptions, Inc. Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: Receipts: Total Cash Receipts Payments:
Total Cash Payments Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities:
Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash Cash Balance, December 31, 2023 Cash Balance, December 31, 2024 Non-cash Investing and Financing Activities: Total Non-cash Investing and Financing Activities Requirement 2. How will what you learned in this problem help you evaluate an investment? O A. Learn how operating activities, investing activities, and financing activities generate cash receipts and cash payments B. Learn how to predict future cash flows, evaluate management decisions, and predict the ability of the company to pay its debts and dividends C. Both A and B D. None of the above
Digital Subscriptions, Inc. Income Statement Year Ended December 31, 2024 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: Salaries Expense Depreciation Expense-Plant Assets Other Operating Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Interest Revenue Interest Expense 70,400 15,000 10,500 8,500 (21,000) 439,000 200,200 238,800 95,900 142,900
Cost of Goods Sold Gross Profit Operating Expenses: Salaries Expense Depreciation Expense-Plant Assets Other Operating Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Interest Revenue Interest Expense Total Other Income and (Expenses) Net Income Before Income Taxes Income Tax Expense Net Income $ 70,400 15,000 10,500 8,500 (21,000) 200,200 238,800 95,900 142,900 (12,500) 130,400 19,500 $ 110,900
Current Assets: Cash Accounts Receivable Merchandise Inventory Long-term Assets: Land Plant Assets Digital Subscriptions, Inc. Comparative Balance Sheet December 31, 2024 and 2023 Total Assets Assets Accumulated Depreciation-Plant Assets GA $ 2024 26,500 $ 26,400 79,000 34,500 124,190 (22,290) 268,300 $ 2023 15,200 25,100 91,200 10,000 111,330 (18,630) 234,200
Plant Assets Accumulated Depreciation-Plant Assets Total Assets Current Liabilities: Accounts Payable Accrued Liabilities Long-term Liabilities: Notes Payable Total Liabilities Liabilities Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 124,190 111,330 (22,290) (18,630) 268,300 $ 234,200 35,400 $ 28,900 77,000 141,300 88,200 38,800 127,000 268,300 $ 30,500 30,100 104,000 164,600 64,200 5,400 69,600 234,200