a comparative balance sheet for ALPHAinc at December 31,2017 is shown below. 2017 2016 Change cash 30,000 35,000...

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Accounting

a comparative balance sheet for ALPHAinc at December 31,2017 isshown below.

2017 2016 Change

cash 30,000 35,000 -5,000   

accounts receivable 55,000 45,000 10,000

inventory 65,000 45,000 20,000

preppaid expense 15,000 25,000 -10,000

land 70,000 40,000 30,000

right of use of asset 100,000 0 100,000

equipment 90,000 75,000 15,000

accumulated depreciation -18,000 -8,000 -10,000

total 407,000 257,000 150,000

Accounts payable 65,000 52,000 13,000

accrued expense 15,000 18,000 3,000

notes payable 0 23,000 -23,000

bonds payable 30,000 0 30,000

lease liability 100,000 0 100,000

common stock($10par) 189,000 159,000 30,000

retained earnings 8,000 5,000 3,000

Total Liabilities and equity 407,000 257,000 150,000

Additional information and events:

a. land was acquired for $30,000 in exchange for commonstock

b. equipment purchase was for cash

c. equipment costing $13,000 was sold for $3,000 the book valueof this equipment was $ 6,000

d. Alpha entered in to a financial lease for an office buildingon december 31,2017 that the fair value was equal to the leaseliability. the initial payment is due in january of 2018

e. cash dividends of $2,000 were declared and paid during theyear.

f. net income was $5,000

Please help me prepare the operating, investing, and financialcash flow ....

Answer & Explanation Solved by verified expert
4.3 Ratings (902 Votes)
ALPHA Inc Statement of Cash Flows For the Year Ended December 31 2017 Cash Flows from Operating Activities Net income 5000 Adjustments to reconcile net income to net cash provided by    See Answer
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