APPLETON GROUP INC. Income Statement Year Ended December 31, 2018 Net Sales Reve

ID: 2595227 • Letter: A

Question

APPLETON GROUP INC. Income Statement Year Ended December 31, 2018 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: $443,000 205,800 237,200 Salaries Expense Depreciation Expense Plant Assets Other Operating Expenses Total Operating Expenses 76,800 15,400 49,300 141,500 95,700 Operating Income Other Income and (Expenses): Interest Revenue Interest Expense Total Other Income and (Expenses) 11,600 (24,400) Net Income Before Income Taxes Income Tax Expense Net Income (12,800) 82,900 16,200 $ 66,700

Explanation / Answer

Answer:

APPLETON INC

Cash Flow statement

Cash Flows from Operating Activities:

Net Income

66700

Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:

Depreciation Expense—Plant Assets

15400

Decrease in Accounts Receivable

1700

Increase in Merchandise Inventory

-3700

Decrease in Accounts Payable

-1000

Increase in Accrued Liabilities

1800

14200

Net Cash Provided by Operating Activities

80900

Cash Flows from investing Activities:

Cash Payment for Acquisition of Plant Assets

-22800

Cash Payment for Acquisition of Land

-25200

Net Cash Used for Investing Activities

-48000

Cash Flows from Financing Activities:

Cash Payment of Notes Payable

-14000

Cash Receipt from Issuance of Common Stock

8200

Cash Payment of Dividends

-28300

Net Cash Provided by Financing Activities

-34100

Net Increase (Decrease) in Cash

-1200

Opeaning cash balance

15900

Eding cah balance

14700