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Fast, Fehr & Friendly, Inc. STATEMENT OF INCOME For the Year Ended September 30, 2019...

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Fast, Fehr & Friendly, Inc. STATEMENT OF INCOME For the Year Ended September 30, 2019 $ Revenue & Gains: Sales Interest Gain on Sale of Assets Total Revenue 160 6 9 $ 175 $ Expenses and Losses: Cost of Goods Sold Salaries Depreciation Interest Miscellaneous 61 22 18 5 4 $ 110 111 Net Income $ 65 Fast, Fehr & Friendly, Inc. STATEMENT OF FINANCIAL POSITION September 30, 2019 and September 30, 2018 30-Sep-19 30-Sep-18 $ ASSETS: CASH ACCOUNTS RECEIVABLE INVENTORY AFS (Long--TERM) INVESTMENTS PREPAID MISCELLANEOUS EXPENSES PLANT ASSETS ACCUMULATED DEPRECIATION TOTAL ASSETS 68 $ 28 44 15 35 27 48 20 5 3 72 -22 208 $ 65 -34 166 $ $ LIABILITIES AND EQUITY ACCOUNTS PAYABLE $ ACCRUED SALARIES PAYABLE DIVIDENDS PAYABLE INTEREST PAYABLE BONDS PAYABLE COMMON STOCK PREMIUM ON COMMON STOCK RETAINED EARNINGS TOTAL LIABILITIES AND EQUIT $ 18 6 0 2 8 3 3 45 54 40 40 20 15 45 63 208 $ 166 Additional information: 1. Plant assets were sold for $10 cash during the year. Instructions: 1. Prepare a statement of Cash Flows-using the indirect method for operating activities to present the operating activities

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