DONT GIVE ANSWER IN IMAGE FORMAT Problem 11-2A (Algo) Classify items and prepare the statement of cash flows (LO11-1, 11-3, 11-4, 11-5)Seth Erkenbeck, a recent college graduate, has just completed the basic format to be used in preparing the statement of cash flows(indirect method) for ATM Software Developers. All amounts are in thousands (000s).ATM SOFTWARE DEVELOPERSStatement of Cash FlowsFor the Year Ended December 31, 2024Cash Flows from Operating ActivitiesNet incomeAdjustments to reconcile net income to net cash flows from operating activities:Net cash flows from operating activitiesCash Flows from Investing ActivitiesNet cash flows from investing activitiesCash Flows from Financing ActivitiesNet cash flows from financing activitiesNet increase (decrease) in cashCash at the beginning of the periodCash at the end of the periodListed below in random order are line items to be included in the statement of cash flows.Cash received from the sale of land (no gain or loss)Issuance of common stockDepreciation expenseIncrease in accounts receivableDecrease in accounts payableIssuance of long-term notes payablePurchase of equipmentDecrease in inventoryDecrease in prepaid rentPayment of dividendsNet incomePurchase of treasury stock$8,53012,7755,4053,9701,70016, 19539,5651,4158456,25011,2002,555$2,3257,640$9,965Required:Prepare the statement of cash flows for ATM Software Developers using the indirect method. (Amounts to be deducted, cashoutflows, and any decrease in cash should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000,000should be entered as 10,000).) Problem 11-2A (Algo) Classify items and prepare the statement of cash flows (LO11-1, 11-3, 11-4, 11-5)Seth Erkenbeck, a recent college graduate, has just completed the basic format to be used in preparing the statement of cash flows(indirect method) for ATM Software Developers. All amounts are in thousands (000s).ATM SOFTWARE DEVELOPERSStatement of Cash FlowsFor the Year Ended December 31, 2024Cash Flows from Operating ActivitiesNet incomeAdjustments to reconcile net income to net cash flows from operating activities:Net cash flows from operating activitiesCash Flows from Investing ActivitiesNet cash flows from investing activitiesCash Flows from Financing ActivitiesNet cash flows from financing activitiesNet increase (decrease) in cashCash at the beginning of the periodCash at the end of the periodListed below in random order are line items to be included in the statement of cash flows.Cash received from the sale of land (no gain or loss)Issuance of common stockDepreciation expenseIncrease in accounts receivableDecrease in accounts payableIssuance of long-term notes payablePurchase of equipmentDecrease in inventoryDecrease in prepaid rentPayment of dividendsNet incomePurchase of treasury stock$8,53012,7755,4053,9701,70016, 19539,5651,4158456,25011,2002,555$2,3257,640$9,965Required:Prepare the statement of cash flows for ATM Software Developers using the indirect method. (Amounts to be deducted, cashoutflows, and any decrease in cash should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000,000should be entered as 10,000).)

The cash flow statement is one of the financial statements of the business. The activities for cash…

Seth Erkenbeck, a recent college graduate, has just completed the basic format to be used in preparing the statement of cash flows (indirect method) for ATM Software Developers. All amounts are in thousands (000s). ATM SOFTWARE DEVELOPERS Statement of Cash Flows For the Year Ended December 31, 2024 Cash Flows from Operating Activities Net income Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Net increase (decrease) in cash Cash at the beginning of the period Cash at the end of the period Listed below in random order are line items to be included in the statement of cash flows. Cash received from the sale of land (no gain or loss) Issuance of common stock Depreciation expense Increase in accounts receivable Decrease in accounts payable Issuance of long-term notes payable Purchase of equipment Decrease in inventory Decrease in prepaid rent Payment of dividends Net income Purchase of treasury stock $ 8,530 12,775 5,405 3,970 1,700 16, 195 39,565 1,415 845 6,250 11, 200 2,555 $2,325 7,640 $9,965 Required: Prepare the statement of cash flows for ATM Software Developers using the indirect method. (Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000,000 should be entered as 10,000).)

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter12: The Statement Of Cash Flows

Section: Chapter Questions

Problem 12.8AP