Prepare vitamirs Plus\'s statement of ch ows for he yeer ended September 30, 201
ID: 2589763 • Letter: P
Question
Prepare vitamirs Plus's statement of ch ows for he yeer ended September 30, 2016, using the incirect method. Indude a eparate section for non-cash investing and financing sctiviliee Vitamins Plus, Inc. Staramant of Cash Flows Year Ended Saptamhar 30, 2016 Data Table Acquisition 01 plant assets is 122.000 Or thi8 enount $105.000 is paid in cash and 516,000 by siging anote payabile Vitomins Plus, Inc a. Net Income Adusiments to Reconcle Net Income to Nel Cash Pruvided by Used Sor) Operstina Activilies Year Ended Seplember 30, 2016 c. Cash reccipts from zuanomon tock tota 332,000. d Paymant of note parabla is $15,0n . Payment ot divdenda is 515,000 Sales Revenue Cost of Coods Sold Grus Piot Oper tin. Expertes. 231,000 97 000 Frum the balance sheel 134,000 September 30 2016 2015 Suleries Expense 52000 Cash 43 000 1000 182.000 50,000) 84,000 35,000 13,000 16,000 37,000 281,000 30 000 20 DD0 S7 o00 6,000 60,000 20,000) 112.000 22,000 18.000 82,000 2111 11,000 S 41,000 Toral (Oparatrg ExpanSAR Net Cach Provided by (Uzed forl) Operating Acthvities Cash Flows from Imcsting Acdivtics Marchandsa Inventory Plant Assets Incoma Tax Expanse Net Incom Land Accounte Payable Aucrued Lisbies Netes Payable (long-term) Common Stock, na par Rctained E PintDone Nct Cach Provided by (Uzed sor) Incating ctivities Cashlaws from Financing Act ttas: 5,000 255,000 PrintDoneExplanation / Answer
Vitamins Plus, Inc. Statement of Cash Flows Year Ended September 30, 2016 Cash Flows from Operating Activities: Net income 41000 Adjustments to reconcile net income to net cash provided by (used for) operating activities Depreciation expense 30000 Decrease in Accounts Receivable 15000 Increase in Inventory -8000 Increase in Accounts payable 13000 Decrease in Accrued liabilities -5000 45000 Net cash provided by (used for) operating activities 86000 Cash Flows from Investing Activities: Sale proceeds from land 28000 Purchase of plant assets -106000 Net cash provided by (used for) investing activities -78000 Cash Flows from Financing Activities Payment of long-term notes payable -15000 Issuance of Common stock 32000 Payment of cash dividends -15000 Net cash provided by (used for) financing activities 2000 Net increase (decrease) in cash 10000 Cash balance at beginning of year 20000 Cash balance at end of year 30000 Noncash Investing and Financing Activities Issuance of Long-term note payable for Plant Assets 16000