The income statement and additional data of Healthy Living Plus, Inc. follows: Prepare Healthy Living Plus's statement of cash flows for the year ended September 30, 2018, using the indirect method. Include a separate section for non-cash investing and financing activities. Complete the statement one section at a time, beginning with the 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.) a. Acquisition of plant assets is $115,000. Of this amount, $101,000 is paid in cash and $14,000 by signing a note payable. b. Cash receipt from sale of land totals $24,000. There was no gain or loss. c. Cash receipts from issuance of common stock total $35,000. d. Payment of note payable is $13,000. e. Payment of dividends is $11,000. f. From the balance sheet: September 30 2018 2017 Cash $35,000 $16,000 Accounts Receivable 46,000 59,000 Merchandise Inventory 98,000 89,000 Land 72,000 96,000 Plant Assets 200,000 85,000 Accumulated Depreciation (37,000) (15,000) Accounts Payable 40,000 28,000 Accrued Liabilities 16,000 21,000 Notes Payable (long-term) 14,000 13,000 Common Stock, no par 46,000 11,000 Retained Earnings 298,000 257,000 Complete the statement one section at a time, beginning with the 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.) Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: 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, September 30, 2017 Cash Balance, September 30, 2018 Non-cash Investing and Financing Activities: Total Non-cash Investing and Financing Activities Choose from any list or enter any number in the input fields and then continue to the next

The income statement and additional data of Healthy Living Plus, Inc. follows: Prepare Healthy Living Plus's statement of cash flows for the year ended September 30, 2018, using the indirect method. Include a separate section for non-cash investing and financing activities. Complete the statement one section at a time, beginning with the 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.) a. Acquisition of plant assets is $115,000. Of this amount, $101,000 is paid in cash and $14,000 by signing a note payable. b. Cash receipt from sale of land totals $24,000. There was no gain or loss. c. Cash receipts from issuance of common stock total $35,000. d. Payment of note payable is $13,000. e. Payment of dividends is $11,000. f. From the balance sheet: September 30 2018 2017 Cash $35,000 $16,000 Accounts Receivable 46,000 59,000 Merchandise Inventory 98,000 89,000 Land 72,000 96,000 Plant Assets 200,000 85,000 Accumulated Depreciation (37,000) (15,000) Accounts Payable 40,000 28,000 Accrued Liabilities 16,000 21,000 Notes Payable (long-term) 14,000 13,000 Common Stock, no par 46,000 11,000 Retained Earnings 298,000 257,000 Complete the statement one section at a time, beginning with the 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.) Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: 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, September 30, 2017 Cash Balance, September 30, 2018 Non-cash Investing and Financing Activities: Total Non-cash Investing and Financing Activities Choose from any list or enter any number in the input fields and then continue to the next

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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Question

The income statement and additional data of

Healthy Living

Plus, Inc. follows:

Prepare

Healthy Living Plus's statement of cash flows for the year ended

September 30, 2018, using the indirect method. Include a separate section for non-cash investing and financing activities.

Complete the statement one section at a time, beginning with the 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.)

a.	Acquisition of plant assets is $115,000. Of this amount, $101,000 is paid in cash and $14,000 by signing a note payable.
b.	Cash receipt from sale of land totals $24,000. There was no gain or loss.
c.	Cash receipts from issuance of common stock total $35,000.
d.	Payment of note payable is $13,000.
e.	Payment of dividends is $11,000.
f.	From the balance sheet:

	September 30
	2018	2017
Cash	$35,000	$16,000
Accounts Receivable	46,000	59,000
Merchandise Inventory	98,000	89,000
Land	72,000	96,000
Plant Assets	200,000	85,000
Accumulated Depreciation	(37,000)	(15,000)
Accounts Payable	40,000	28,000
Accrued Liabilities	16,000	21,000
Notes Payable (long-term)	14,000	13,000
Common Stock, no par	46,000	11,000
Retained Earnings	298,000	257,000

Cash Flows from Operating Activities:
	Net Income
	Adjustments to Reconcile Net Income to Net Cash
	Provided by (Used for) Operating Activities:







	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, September 30, 2017
	Cash Balance, September 30, 2018

	Non-cash Investing and Financing Activities:


	Total Non-cash Investing and Financing Activities

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Data Table
The income statement and additional data of Healthy Living Plus, Inc. follows:
E (Click the icon to view the income statement.)
(Click the icon to view the additional data.)
Year Ended September 30, 2018
Prepare Healthy Living Plus's statement of cash flows for the year ended September 30, 2018, using the indir
Net Sales Revenue
$
233,000
Cash Flows from Operating Activities:
93,000
Cost of Goods Sold
Net Income
Gross Profit
140,000
Adjustments to Reconcile Net Income to Net Cash
Operating Expenses:
Provided by (Used for) Operating Activities:
Salaries Expense
2$
57,000
22,000
Depreciation Expense-Plant Assets
79,000
Total Operating Expenses
Net Income Before Income Taxes
61,000
9,000
Income Tax Expense
$
52,000
Net Income
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