Homework: Chapter 13 - Homework Score: 0 of 6 pts 5 of 5 (4 complete) P13-36B (book/static) HW Score: 32.89% Que Prepare statement of cash flows using the indirect method. The income statement for 2017 and the balance sheets for 2017 and 2016 are presented for Hall Ind :: Click the icon to view the income statement.) !! (Click the icon to view the balance sheets.) i (Click the icon to view additional information.) Requirement Prepare a statement of cash flows for Hall Industries, Inc., for the year ended December 31, 2017, using the indirect method. Prepare the statement one section at a time. (Use parentheses or a minus sign for numbers to be subtracted and for net cash outflows.) Hall Industries, Inc. Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2017 Operating Activities: Adjustments to reconcile net income to cash basis: Choose from any list or enter any number in the input fields and then click Check Answer Check: Clear All 3 3 parts remaining + 5 of 5 (4 complete) Score: 0 of 6 pts P13-36B (book/static) U Prepare statement of cash flows using the indirect method. The income statement for 2017 and the balance sheets for 201 Click the icon to view the income statement.) (Click the icon to view the balance sheets.) (Click the icon to view additional information.) Requirement Prepare a statement of cash flows for Hall Industries, Inc., for the year ended December 31, 2017, using the indirect meth For the Year Ended December 31, 2017 Operating Activities: ns Adjustments to reconcile net income to cash basis: dents 1 elp bok Choose from any list or enter any number in the input fields and then click Check Answer. Clear All 3 parts remaining ersonal) TIMWUI. Ulldpler 13 - Homework Score: 0 of 6 pts 5 of 5 (4 complete) P13-36B (book/static) Prepare statement of cash flows using the indirect method. The income statement for 2017 and the balance sheets for 2017 and 2016 an Click the icon to view the income statement.) (Click the icon to view the balance sheets.) (Click the icon to view additional information.) Requirement Prepare a statement of cash flows for Hall Industries, Inc., for the year ended December 31, 2017, using the indirect method. Is Net cash provided by (used for) operating activities Choose from any list or enter any number in the input fields and then click Check Answer. Clear All parts 3 remaining 3 hall pter 13 - Homework 5 of 5 (4 complete) HW Score: 10 0 Income Statement re presented for Hall Industries, Inc. Income Statement For the Year Ended December 31, 2017 Sales revenues $ 953,000 377,000 $ 576,000 Less: Cost of goods sold Gross profit Less operating expenses: Salaries and wages expense Insurance expense Depreciation expense Other operating expenses Total operating expenses $ 187,000 12,000 46,700 84,000 329,700 Print Done Chec ter 13 - Homework 5 of 5 (4 complete) Income Statement Insurance expense Depreciation expense 12,000 46,700 84,000 Other operating expenses 329,700 Total operating expenses Operating income $ 246,300 Plus other income and less other expenses: Interest expense Gain on sale of PP&E Total other income and expenses Income before income taxes 5,400 3,500 1,900 $ Less: Income tax expense 244,400 73,320 171,080 Net income $ Print Done * Additional information Additional information follows: a. Sold plant asset for $4,200. The original cost of this plant asset was $10,400 and it had $9,700 of accumulated depreciation associated with it. b. Paid $4,500 on the bonds payable; issued $39,500 of new bonds payable. c. Declared and paid cash dividends of $33,100. d. Purchased new investment for $13,000. Paid cash. e. Purchased new equipment for $20,400. Paid cash. Print Done Clear All 13 - Homework 5 of 5 (4 complete) HW Sco i Balance Sheets Sente 6,500 5,000 Prepaid insurance Total current assets $ 888,500 $ 631,000 Property, plant, and equipment $ Less: Accumulated depreciation 600,000 $ (150,000) 91,000 1,429,500 $ 590,000 (113,000) 78,000 1,186,000 Investments Total assets $ Liabilities Current liabilities: Accounts payable (inventory purchases) Wages payable $ 54,000 $ 16,100 40,000 17,800 Print Done Clear AIT pter 13 - Homework 5 of 5 (4 complete) HW Scor Balance Sheets - X sented the ing statem nforma Other accrued expenses payable Total current liablities 6,100 142,320 $ 3,000 71,800 Halling 60,000 25,000 Long-term liabilities Total liabilities $ 202,320 $ 96,800 Stockholders' equity Common stock $ 601,000 $ 626,180 Retained earnings Total stockholders' equity 601,000 488,200 1,089,200 $ 1,227,180 $ $ 1,429,500 $ 1,186,000 rating Total liabilities and equity mber Print Done