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Problem #4 The balance sheets of Kevin's Deliziosi Pasta Mfg., Inc. as of at December 31, 2021 and December 31, 2022 and the related income statement for the year ended December 31, 2022 are as follows: Assets Cash Accounts Receivable Inventory Prepaid Expenses Long-term Investments Machinery & Equipment Accumulated Depreciation Patents Liabilities & Equity Accounts Payable Accrued Expenses Payable Salaries payable Dividends Payable Bonds Payable (due 2030) Common Stock PIC in Excess of Par Retained Earnings Treasury Stock Sales Gain on Sale of Plant Asset Gain on sale of Patents Total Revenue & Gains Cost of Goods Sold Salary Expense Depreciation Expense Amortization of Patents Other Operating Expenses Interest Expense Loss on Sale of Investment Loss on Bond Retirement Total Expenses & Losses Income Before Tax Income Taxes Net Income Additional Information A. Cash dividends of B. Stock was issued for cash 31-Dec-22 60,000 84,000 118,000 12,000 C. Treasury shares were re-acquired with cash D. Equipment with an original cost of accumulated depreciation of 174,000 80,500 (19,000) 39,000 548,500 E. Investments were purchased with cash F. Investments costing G. Bonds were retired with cash H. Cash was paid for Equipment i Patents were sold for cash. 62,000 6,000 4,000 Kevin's Deliziosi Pasta Mfg., Inc. Income Statement $ $ 22,500 75,000 102,000 198,900 110,100 for the year ended December 31, 2022 $ 950,000 (32,000) 548,500 $ 90,000 were declared $ $ 23,000 were sold for cash 3,800 4,600 Required: Prepare a Statement of Cash Flows (indirect method) for the year ended December 21 2022 332,500 157,050 24,000 7,500 192,250 18,500 5,400 2,500 58,000 and 17,000 was sold for cash 31-Dec-21 39,000 62,000 125,000 18,000 160,000 110,000 (12,000) 56,000 558,000 58,000 11,000 2,000 200,000 100,000 181,000 30,000 (24,000) 558,000 $958,400 739,700 $ 218,700 48,600 $ 170,100

Problem #4 The balance sheets of Kevin's Deliziosi Pasta Mfg., Inc. as of at December 31, 2021 and December 31, 2022 and the related income statement for the year ended December 31, 2022 are as follows: Assets Cash Accounts Receivable Inventory Prepaid Expenses Long-term Investments Machinery & Equipment Accumulated Depreciation Patents Liabilities & Equity Accounts Payable Accrued Expenses Payable Salaries payable Dividends Payable Bonds Payable (due 2030) Common Stock PIC in Excess of Par Retained Earnings Treasury Stock Sales Gain on Sale of Plant Asset Gain on sale of Patents Total Revenue & Gains Cost of Goods Sold Salary Expense Depreciation Expense Amortization of Patents Other Operating Expenses Interest Expense Loss on Sale of Investment Loss on Bond Retirement Total Expenses & Losses Income Before Tax Income Taxes Net Income Additional Information A. Cash dividends of B. Stock was issued for cash 31-Dec-22 60,000 84,000 118,000 12,000 C. Treasury shares were re-acquired with cash D. Equipment with an original cost of accumulated depreciation of 174,000 80,500 (19,000) 39,000 548,500 E. Investments were purchased with cash F. Investments costing G. Bonds were retired with cash H. Cash was paid for Equipment i Patents were sold for cash. 62,000 6,000 4,000 Kevin's Deliziosi Pasta Mfg., Inc. Income Statement $ $ 22,500 75,000 102,000 198,900 110,100 for the year ended December 31, 2022 $ 950,000 (32,000) 548,500 $ 90,000 were declared $ $ 23,000 were sold for cash 3,800 4,600 Required: Prepare a Statement of Cash Flows (indirect method) for the year ended December 21 2022 332,500 157,050 24,000 7,500 192,250 18,500 5,400 2,500 58,000 and 17,000 was sold for cash 31-Dec-21 39,000 62,000 125,000 18,000 160,000 110,000 (12,000) 56,000 558,000 58,000 11,000 2,000 200,000 100,000 181,000 30,000 (24,000) 558,000 $958,400 739,700 $ 218,700 48,600 $ 170,100

Fundamentals Of Financial Management, Concise Edition (mindtap Course List)
Fundamentals Of Financial Management, Concise Edition (mindtap Course List)
10th Edition
ISBN:9781337902571
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Eugene F. Brigham, Joel F. Houston
Chapter3: Financial Statements, Cash Flow, And Taxes
Section: Chapter Questions
Problem 19SP
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Provide a statement of cash flow for the attached information
Problem #4 The balance sheets of Kevin's Deliziosi Pasta Mfg., Inc. as of at December 31, 2021 and December 31, 2022 and the related income. statement for the year ended December 31, 2022 are as follows: Assets Cash Accounts Receivable Inventory Prepaid Expenses Long-term Investments Machinery & Equipment Accumulated Depreciation Patents Liabilities & Equity Accounts Payable Accrued Expenses Payable Salaries payable Dividends Payable Bonds Payable (due 2030) Common Stock PIC in Excess of Par Retained Earnings. Treasury Stock Sales Gain on Sale of Plant Asset Gain on sale of Patents Total Revenue & Gains Cost of Goods Sold Salary Expense Depreciation Expense Amortization of Patents Other Operating Expenses Interest Expense Loss on Sale of Investment Loss on Bond Retirement Total Expenses & Losses Income Before Tax Income Taxes Net Income Additional Information 31-Dec-22 60,000 84,000 118,000 12,000 174,000 A. Cash dividends of B. Stock was issued for cash C. Treasury shares were re-acquired with cash D. Equipment with an original cost of accumulated depreciation of 80,500 (19,000) 39,000 548,500 E. Investments were purchased with cash F. Investments costing G. Bonds were retired with cash H. Cash was paid for Equipment i Patents were sold for cash. 62,000 6,000 4,000 Kevin's Deliziosi Pasta Mfg., Inc. Income Statement $ $ 22,500 75,000 102,000 198,900 for the year ended December 31, 2022 $ 950,000 3,800 4,600 110,100 (32,000) 548,500 $ 90,000 were declared $ 332,500 157,050 24,000 7,500 192,250 18,500 $ 23,000 were sold for cash 5,400 2,500 Required: Prepare a Statement of Cash Flows (indirect method) for the year ended December 31, 2022 58,000 and 17,000 was sold for cash 31-Dec-21 39,000 62,000 125,000 18,000 160,000 110,000 (12,000) 56,000 558,000 58,000 11,000 2,000 200,000 100,000 181,000 30,000 (24,000) 558,000 $ 958,400 739,700 $ 218,700 48,600 $ 170,100
Transcribed Image Text:Problem #4 The balance sheets of Kevin's Deliziosi Pasta Mfg., Inc. as of at December 31, 2021 and December 31, 2022 and the related income. statement for the year ended December 31, 2022 are as follows: Assets Cash Accounts Receivable Inventory Prepaid Expenses Long-term Investments Machinery & Equipment Accumulated Depreciation Patents Liabilities & Equity Accounts Payable Accrued Expenses Payable Salaries payable Dividends Payable Bonds Payable (due 2030) Common Stock PIC in Excess of Par Retained Earnings. Treasury Stock Sales Gain on Sale of Plant Asset Gain on sale of Patents Total Revenue & Gains Cost of Goods Sold Salary Expense Depreciation Expense Amortization of Patents Other Operating Expenses Interest Expense Loss on Sale of Investment Loss on Bond Retirement Total Expenses & Losses Income Before Tax Income Taxes Net Income Additional Information 31-Dec-22 60,000 84,000 118,000 12,000 174,000 A. Cash dividends of B. Stock was issued for cash C. Treasury shares were re-acquired with cash D. Equipment with an original cost of accumulated depreciation of 80,500 (19,000) 39,000 548,500 E. Investments were purchased with cash F. Investments costing G. Bonds were retired with cash H. Cash was paid for Equipment i Patents were sold for cash. 62,000 6,000 4,000 Kevin's Deliziosi Pasta Mfg., Inc. Income Statement $ $ 22,500 75,000 102,000 198,900 for the year ended December 31, 2022 $ 950,000 3,800 4,600 110,100 (32,000) 548,500 $ 90,000 were declared $ 332,500 157,050 24,000 7,500 192,250 18,500 $ 23,000 were sold for cash 5,400 2,500 Required: Prepare a Statement of Cash Flows (indirect method) for the year ended December 31, 2022 58,000 and 17,000 was sold for cash 31-Dec-21 39,000 62,000 125,000 18,000 160,000 110,000 (12,000) 56,000 558,000 58,000 11,000 2,000 200,000 100,000 181,000 30,000 (24,000) 558,000 $ 958,400 739,700 $ 218,700 48,600 $ 170,100
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