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i Data Table Data Tabe 2024 2023 Payment of cash dividends 14,200 Depreciation expense %24 17,000 Current Assets: Purchase of equipment with cash 54,400 Purchase of building with cash 99,000 99,500 $ 26,500 Issuance of long-term notes payable to borrow cash 46,000 Net income 66,600 Cash Accounts Receivable 14,900 21,500 Issuance of common stock for cash 104,000 Merchandise Inventory 63,800 60,000 Current Liabilities: Print Done Accounts Payable 30,600 25,100 Accrued Liabilities 10,100 11,400 Print Done

i Data Table Data Tabe 2024 2023 Payment of cash dividends 14,200 Depreciation expense %24 17,000 Current Assets: Purchase of equipment with cash 54,400 Purchase of building with cash 99,000 99,500 $ 26,500 Issuance of long-term notes payable to borrow cash 46,000 Net income 66,600 Cash Accounts Receivable 14,900 21,500 Issuance of common stock for cash 104,000 Merchandise Inventory 63,800 60,000 Current Liabilities: Print Done Accounts Payable 30,600 25,100 Accrued Liabilities 10,100 11,400 Print Done

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Requirement 1. Prepare the statement of cash flows of Morston Educational Supply for the year ended Dec 31,2024. Use the indirect method to report cash flows from operating. Requirement 2. If morston plans similar activity for 2025 what is it’s expected free cash flow? Select the labels and enter the amounts to calculate morstons expected free cash flow for 2025
i Data Table Data Table 2024 Payment of cash dividends 14,200 Depreciation expense 2$ 17,000 2023 on Purchase of equipment with cash 54,400 Purchase of building with cash 99,000 Current Assets: 99,500 $ 26,500 Issuance of long-term notes payable to borrow cash 46,000 Net income 66,600 Cash Accounts Receivable 14,900 21,500 Issuance of common stock for cash 104,000 Merchandise Inventory 63,800 60,000 Current Liabilities: Print Done Accounts Payable 30,600 25,100 Accrued Liabilities 10,100 11,400 Print Done on continue to the next question.
Transcribed Image Text:i Data Table Data Table 2024 Payment of cash dividends 14,200 Depreciation expense 2$ 17,000 2023 on Purchase of equipment with cash 54,400 Purchase of building with cash 99,000 Current Assets: 99,500 $ 26,500 Issuance of long-term notes payable to borrow cash 46,000 Net income 66,600 Cash Accounts Receivable 14,900 21,500 Issuance of common stock for cash 104,000 Merchandise Inventory 63,800 60,000 Current Liabilities: Print Done Accounts Payable 30,600 25,100 Accrued Liabilities 10,100 11,400 Print Done on continue to the next question.
The comparative balance sheet of Morston Educational Supply at December 31, 2024, reported the following: E (Click the icon to view the comparative balance sheet.) Morston's transactions during 2024 included the following: EClick the icon to view the transactions.) Read the requirements. Requirement 1. Prepare the statement of cash flows of Morston Educational Supply for the year ended December 31, 2024. Use the indirect method to report cash flows from operating activities. (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. Morston Educational Supply Statement of Cash Flows Year Ended December 31, 2024
Transcribed Image Text:The comparative balance sheet of Morston Educational Supply at December 31, 2024, reported the following: E (Click the icon to view the comparative balance sheet.) Morston's transactions during 2024 included the following: EClick the icon to view the transactions.) Read the requirements. Requirement 1. Prepare the statement of cash flows of Morston Educational Supply for the year ended December 31, 2024. Use the indirect method to report cash flows from operating activities. (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. Morston Educational Supply Statement of Cash Flows Year Ended December 31, 2024
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