The 2017 compaatve balance shot and income statement of Orangvile Group Inc tolows mICthe loon to view the comparative belance sheet (Cilok the loon fo viewthe Inoome statement) Orangevle Grouo had no noncash investing and tnancing transations during 2017. Duing the year, there were no sales of land or plart and equipment, no isances of noles payab and no rapurchase of common shares Required Papare the 2017 cash fow stutement by the indrect method 1. Evalt he 2017 cash fow tor ths compary Requirement 1. Papare the 2017 cash fow temert by the indred method e parentheces or a minus sign for numbers to be cubtracted or for negative cash flows) Orangevile Oroup Ina Comparative balance sheet - X Income statemant Cach Flow Matment For the Yoar Enda Decarber 21, 2017 Cash Sous tom apeating achitas Orangeville Oroup Ino. Orangeville Oroup Ina. Nt income Balanoe heet Inoome ttatement For the Year Endad Decamber 31, 2017 Aac at oms that atect nt ncome December 31, 201I7 and 2016 and can atenty 2017 2010 Reveruas Anotauton Dose in acourts e Deoasein rt e Curont assets $ 4.30000 28.000 Sales novenue Cash and cah oualerts 1000 Intrest roverue Accounts recaivable 423.000 44000 Inoe is ertres 4.400.000 7.200 senur Interast rocelvabie 10.200 Exponses Cost of goods soid Salanes cense Amartaation exparse Othar operating openses Deoe in pat opers Inventories 987.000 917.000 Decne S 1.952.000 Prepaid penses Plart and aqupmert, net De nrat pae 19,000 30,000 825.Co0 1,025.00C 543 000 218.000 rONDM 226.000 5CLCOD wapied s 417.000 Deown 1kuase s Land nomet TxEassots sa $ 2.901200 S 2.72 sored suu om aperating actvies Inosase Inorest opense Nt cah ntoe Curont labtes Income tax expense 172.000 Con fows tom invedg as Accounts payaie 118,00S 193,000 T xpensas 3.571.000 Acpuisition af and rost payabie Wages payable 72,000 Ntincome 438.00 Acston at onert 8,000 201,000 D0,000 Leane abtos NE ch nfow butowtom investing aves Cash fow 19,00C Income tax payaie Print Done n out Longlam labias Paynert of udends Pament of no pa Notes payabe 405.000 BUrca of cormon shas Sharsholders eguly Comman shares Nt cah intow ufow ton trancng ades can 1.42.0o 515.200 120.000 Rutained eamings 204200 and cash rs Decanber 31, 2016 Txa latas and sharshoiders aquy $ 2.003.20S 272 Cash and cash agier Decamber 31.2017 Requirement2 E he 2017 ah fow tor this campany Print Done A poste net can tow trom atvies conveys a Signal to investors as wal as land and equipmant OutoNS Fatedto acivites causad yealy casn fow to rsutina balance Eher the should have bean delayed un cash was adequte to cover these auttows his is nat a the business wil andure hoever, t will noed to be in the yoars to come Er any unbar in the adt fais and then contnue to the ned qustion

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Problem 1Q
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The 2017 comparative balance shoat and income statement of Orangovile Group Inc. folows
(Clok the loon to view the Inoome ctatement)
Orangovile Group had no non-cash investing and financing transactions during 2017. Dutng the yoar, there were no sales of land or plant and oquipment, no isuances of notas payable, and no rapurchase of common shares
Required
1.
m (Clok the loon to view the oomparative belanoe cheet)
Propare the 2017 cash fow statomant by the indrect mothod.
Evaluate the 2017 cash fow tor this company
Requirement 1.Propare the 2017 cash fow statomant by the indirect method (Uce parentheces or a minus cign for numbers to be cubtraoted or for negative oach flows.)
Orangevile Oroup Ina.
Comparative balance sheet
Income statemant
Cash Flow Btatement
For the Yhar Endad December 31, 2017
Cash fows from aperating actvitios
Orangeville Group Ino.
Crangeville Group ina.
Net income
Balanoe Sheet
Inoome atateent
Add (sutract) homs that affect net income
and cash tow dtoronty
Docember 31, 2017 and 2016
For the Yoar Endad Decamber 31, 2017
2017
2018
Reverues
Amortastion
Curront assets
Sales novenue
380,000
Decroase in accounts racaivable
168,000
449,000
Docrease in intarast racevabie
Cash and cash aquivalents
5.00CS
Intorest revaruo
29,000
Accounts receivable
423,000
Incruase in inventories
Total ravanues
4,408.000
Interest rocelvable
7,200
10,200
Decrease in prapaid oxperses
Exponses
Inventories
997,00
917,000
Decraase in acounts payabie
Cost of goods sold
1,952.000
Propaid axponsen
19,000
30,000
Decresse in intoret payable
Salares ecense
Amarization expanse
826.C00
Plart and equipmont, net
943,000
1,025,000
417.000
Ihowase In wages payabla
255.000
Land
218,000
Other oporating axpenses
Intorest axpensa
SOBI cg
anonease in incomo tax payabe
Total asacts
$ 2.963,200 S 2735,200
Nat cash infow joufow) trom aperating activities
Curront lablts
173.000
Income tax exconse
Cash fows from Invasting acti/des
Accounts payable
Interast payable
118,00cs
193,000
Total axpensas
3,971,000
Acquisition of land
79,000
Acustion of aupment
Wages payable
Nat income
438.000
77,000
18,000
Lease labites
Nat cash infow (ouffow) trom investing activities
Cash fows fom francing ativan
195,000
201,000
Income tax payable
89,000
50,000
Print
Done
Payment of dvdonds
Longterm kabites
Notes payable
Sharcholders cquity
Payment of notos payabia
670,00
Ionuance of common shares
Common shares
1426.0oc
Nat cah intow (outfowtrom tirancing adivitias
Not incraase (dcreasa) in cash
1230.000
Retained eamings
515.200
294 200
Cash and cash ouivaorts Decamber 31, 2016
Tokal llabiltas and sharahoiders' aquity
$ 2963.20c S 27352
Cash and cash Gouvalors December 31, 2017
Requirement 2. Evaluste the 2017 cash fow for his company
Print
Done
A postive net cash fow trom
V adtivities convays a
Vsignal to investors as woll as
Land and aquipmant
Outfows raiated D
actvities casd yearly cah tfow to retin a
Vbalance. Eher the
should have boan delayed untt cash was adoquate to over these autows
As long as this is not a
the business wil endure however, it will nood to be
Vin the years to come
Erter any number in the adt feids and then continue to the next question.
Transcribed Image Text:The 2017 comparative balance shoat and income statement of Orangovile Group Inc. folows (Clok the loon to view the Inoome ctatement) Orangovile Group had no non-cash investing and financing transactions during 2017. Dutng the yoar, there were no sales of land or plant and oquipment, no isuances of notas payable, and no rapurchase of common shares Required 1. m (Clok the loon to view the oomparative belanoe cheet) Propare the 2017 cash fow statomant by the indrect mothod. Evaluate the 2017 cash fow tor this company Requirement 1.Propare the 2017 cash fow statomant by the indirect method (Uce parentheces or a minus cign for numbers to be cubtraoted or for negative oach flows.) Orangevile Oroup Ina. Comparative balance sheet Income statemant Cash Flow Btatement For the Yhar Endad December 31, 2017 Cash fows from aperating actvitios Orangeville Group Ino. Crangeville Group ina. Net income Balanoe Sheet Inoome atateent Add (sutract) homs that affect net income and cash tow dtoronty Docember 31, 2017 and 2016 For the Yoar Endad Decamber 31, 2017 2017 2018 Reverues Amortastion Curront assets Sales novenue 380,000 Decroase in accounts racaivable 168,000 449,000 Docrease in intarast racevabie Cash and cash aquivalents 5.00CS Intorest revaruo 29,000 Accounts receivable 423,000 Incruase in inventories Total ravanues 4,408.000 Interest rocelvable 7,200 10,200 Decrease in prapaid oxperses Exponses Inventories 997,00 917,000 Decraase in acounts payabie Cost of goods sold 1,952.000 Propaid axponsen 19,000 30,000 Decresse in intoret payable Salares ecense Amarization expanse 826.C00 Plart and equipmont, net 943,000 1,025,000 417.000 Ihowase In wages payabla 255.000 Land 218,000 Other oporating axpenses Intorest axpensa SOBI cg anonease in incomo tax payabe Total asacts $ 2.963,200 S 2735,200 Nat cash infow joufow) trom aperating activities Curront lablts 173.000 Income tax exconse Cash fows from Invasting acti/des Accounts payable Interast payable 118,00cs 193,000 Total axpensas 3,971,000 Acquisition of land 79,000 Acustion of aupment Wages payable Nat income 438.000 77,000 18,000 Lease labites Nat cash infow (ouffow) trom investing activities Cash fows fom francing ativan 195,000 201,000 Income tax payable 89,000 50,000 Print Done Payment of dvdonds Longterm kabites Notes payable Sharcholders cquity Payment of notos payabia 670,00 Ionuance of common shares Common shares 1426.0oc Nat cah intow (outfowtrom tirancing adivitias Not incraase (dcreasa) in cash 1230.000 Retained eamings 515.200 294 200 Cash and cash ouivaorts Decamber 31, 2016 Tokal llabiltas and sharahoiders' aquity $ 2963.20c S 27352 Cash and cash Gouvalors December 31, 2017 Requirement 2. Evaluste the 2017 cash fow for his company Print Done A postive net cash fow trom V adtivities convays a Vsignal to investors as woll as Land and aquipmant Outfows raiated D actvities casd yearly cah tfow to retin a Vbalance. Eher the should have boan delayed untt cash was adoquate to over these autows As long as this is not a the business wil endure however, it will nood to be Vin the years to come Erter any number in the adt feids and then continue to the next question.
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