Question

please do it asap and show the work!

Using the information on the income statement and balance sheet to prepare the statement of cash flow for the year of 2019 Income Statement 2018 2019 2018 5517 2018 S250 1,092 1,495 2.837 2019 5951 100 Cash Accounts Receivable Inventory Current Assets 200 Sales COGS Depreciation EBIT Interest Expense Tax Income Taxes Net Income $5,831 3,670 125 2,036 291 1,745 590 1.155 $6,423 4,109 122 2,192 280 1912 670 1.242 Balance Sheet 2019 5313 Accounts Payable 1,162 Notes Payable 1,521 2,996 Current Liabilities Long term Debt 4,123 Total Liabilities Common Stock Retained Bamings $7.119 Total Lab. & Eq. Net Fixed Assets 4,006 717 2,400 3,117 1,900 1,826 $6,843 1051 1,100 2,151 2,100 2,868 $2119 Total Assets $6,843

Answer 1

CASH FLOW STATEMENT (INDIRECT METHOD)

FOR THE YEAR OF 2019

Description	Amount ($)	Amount ($)
Operating Activities:
Net income	1,242
Adjustment to reconcile net income to net cash provided by operating activities:
Add: Depreciation	122
(Increase) decrease in current assets:
Increase in account receivable	(70)
Increase in Inventory	(26)
Increase (decrease) in current liabilities:
Increase in account payable	434
Decrease in notes payable	(100)
Net cash provided by operating activities		1,602
Investing Activities:
Purchase of fixed assets*	(239)
Net cash provided by Investing Activities		(239)
Financing Activities:
Issued common stock ($2,100 - $1,900)	200
Payment of long term debt ($2,400 - $1,100)	(1,300)
Dividend paid *	(200)
Net cash provided by financing activities		(1,300)
Net increase in cash		63
Add: Cash (2018)		250
Cash (2019)		313

Working note:

Fixed assets (2018)	$4,006
Less: Depreciation	(122)
	3,884
Fixed assets (ending)	(4,123)
Purchase fixed assets ($4,123-$3,884)	239

Statement of retained earning:

Retained earning (2018)	$1,826
Add: Net income (2019)	1,242
Total	3,068
Retained earning (2019)	(2,868)
Dividend paid ($3,068-$2,868)	200

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