Cascade Company was started on January 1, Year 1, when it acquired $152,000 cash from the owners. During Year 1, the company earned cash revenues of $95,200 and incurred cash expenses of $67,000. The company also paid cash distributions of $10,000. Required Prepare a Year 1 income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows under each of the following assumptions. (Consider each assumption separately.) a. Cascade is a sole proprietorship owned by Carl Cascade.

Baird Incorporated presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from the company's Year 2 and Year 1 year-end balance sheets. Account Title Accounts receivable Year 2 $15,000 Accounts payable $ 8,400 Year 1. $19,500 $10, 150 The Year 2 income statement showed net income of $28,700. Required a. Prepare the operating activities section of the statement of cash flows. (Amounts to be deducted should be indicated with minus sign.) Cash flows from operating activities Net cash flow from operating activities $ 0

Crane Company completed its first year of operations on December 31, 2022. Its initial income statement showed that Crane had sales revenue of $197,500 and operating expenses of $71,300. Accounts receivable and accounts payable at year-end were $62,400 and $18,300, respectively. Assume that accounts payable related to operating expenses. Ignore income taxes. Compute net cash provided by operating activities 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).) Net cash provided by operating activities GA $ 84,162

Using the Exhibit below, assume that the balance of Accounts Payable was $60,000 at the beginning of the current year.  Furthermore, assume that the balance of Accounts Payable is $65,000 at the end of the current year.  When preparing the Statement of Cash Flow using the indirect method for the current year, which of the following statements would describe the proper presentation of accounts payable on the Cash flow from operating activities section? EXHIBIT                                                                                           Increase                                                                                     (Decrease)      Net Income (loss)                                                         $XXX Adjustments to reconcile net income to net cash flow        from operating activities:    Depreciation of fixed assets                                       XXX    Losses on disposal of assets                                      XXX    Gains on disposal of…