The following are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2017 2016 Cash $36,400 $19,600 Accounts receivable 33,000 19,200 Inventory 31,000 20,400 Equipment 59,400 77,600 Accumulated depreciation—equipment (29,800 ) (23,700 ) Total $130,000 $113,100 Liabilities and Stockholders’ Equity Accounts payable $28,700 $ 16,100 Income taxes payable 7,100 8,000 Bonds payable 26,300 32,500 Common stock 18,200 13,600 Retained earnings 49,700 42,900 Total $130,000 $113,100 NOSKER COMPANY Income Statement For the Year Ended December 31, 2017 Sales revenue $242,100 Cost of goods sold 175,500 Gross profit 66,600 Operating expenses 23,900 Income from operations 42,700 Interest expense 2,400 Income before income taxes 40,300 Income tax expense 8,100 Net income $32,200 Additional data: 1. Dividends declared and paid were $25,400. 2. During the year equipment was sold for $8,700 cash. This equipment cost $18,200 originally and had a book value of $8,700 at the time of sale. 3. All depreciation expense, $15,600, is in the operating expenses. 4. All sales and purchases are on account. Further analysis reveals the following. 1. Accounts payable pertain to merchandise suppliers. 2. All operating expenses except for depreciation were paid in cash. Warning Don’t show me this message again for the assignment Ok Cancel Your answer is partially correct. Try again. Prepare a statement of cash flows for Nosker Company using the direct method. (Show amounts that decrease cash flow with either a – sign e.g. -15,000 or in parenthesis e.g. (15,000).) NOSKER COMPANY Statement of Cash Flows For the Month Ended December 31, 2017December 31, 2017For the Year Ended December 31, 2017EAT_1417141783875_1_9092738347004832 Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash30744990_0_5559452828615665_dropdown_204_resp_5 Increase in Inventory Decrease in Accounts Receivable Increase in Accounts Receivable Sale of Equipment Decrease in Inventory Increase in Income Taxes Payable Decrease in Accounts Payalbe To Suppliers For Interest Decrease in Income Taxes Payable Cash Receipts from Customers Issuance of Common Stock Increase in Accounts Payalbe Redemption of Bonds Payment of Dividends For Operating Expenses For Income Taxes 30744990_0_5559452828615665_dropdown_206_resp_1 $ AddLessresp_2 cash payments: For Income Taxes For Operating Expenses Sale of Equipment Increase in Inventory Issuance of Common Stock Cash Receipts from Customers Redemption of Bonds Decrease in Inventory Increase in Income Taxes Payable Decrease in Income Taxes Payable For Interest Payment of Dividends To Suppliers Increase in Accounts Receivable Decrease in Accounts Receivable Increase in Accounts Payalbe Decrease in Accounts Payalbe 30744990_0_5559452828615665_dropdown_206_resp_2 $ Increase in Accounts Payalbe Redemption of Bonds Cash Receipts from Customers For Interest For Operating Expenses Decrease in Accounts Payalbe Decrease in Accounts Receivable Increase in Income Taxes Payable Increase in Inventory To Suppliers For Income Taxes Payment of Dividends Sale of Equipment Decrease in Income Taxes Payable Issuance of Common Stock Increase in Accounts Receivable Decrease in Inventory 30744990_0_5559452828615665_dropdown_206_resp_3 Decrease in Accounts Payalbe Increase in Inventory For Operating Expenses Cash Receipts from Customers Sale of Equipment Decrease in Inventory Payment of Dividends For Income Taxes Issuance of Common Stock Decrease in Income Taxes Payable Redemption of Bonds Increase in Income Taxes Payable Increase in Accounts Receivable To Suppliers For Interest Decrease in Accounts Receivable Increase in Accounts Payalbe 30744990_0_5559452828615665_dropdown_206_resp_4 Issuance of Common Stock For Interest Decrease in Accounts Payalbe For Income Taxes Increase in Inventory Decrease in Inventory Increase in Accounts Receivable Sale of Equipment Cash Receipts from Customers To Suppliers Decrease in Accounts Receivable Increase in Accounts Payalbe Increase in Income Taxes Payable Redemption of Bonds Decrease in Income Taxes Payable For Operating Expenses Payment of Dividends 30744990_0_5559452828615665_dropdown_206_resp_5 Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash 30744990_0_5559452828615665_dropdown_235_resp_5 Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash30744990_0_5559452828615665_dropdown_240_resp_4 Decrease in Income Taxes Payable For Operating Expenses Payment of Dividends Increase in Inventory Increase in Accounts Receivable Cash Receipts from Customers Increase in Income Taxes Payable For Income Taxes To Suppliers Decrease in Accounts Receivable Sale of Equipment For Interest Increase in Accounts Payalbe Issuance of Common Stock Decrease in Accounts Payalbe Redemption of Bonds Decrease in Inventory 30744990_0_5559452828615665_dropdown_206_resp_6 Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash30744990_0_5559452828615665_dropdown_247_resp_3 For Operating Expenses Increase in Accounts Payalbe Issuance of Common Stock For Income Taxes Decrease in Accounts Receivable Sale of Equipment Redemption of Bonds Payment of Dividends Increase in Accounts Receivable For Interest Decrease in Accounts Payalbe Increase in Inventory Decrease in Inventory Increase in Income Taxes Payable Decrease in Income Taxes Payable Cash Receipts from Customers To Suppliers 30744990_0_5559452828615665_dropdown_206_resp_9 Increase in Accou
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