otained for $9,400. All expenditures were for cash. Assume that all of these expenditures occurred on January 1,2021. (Click the icon to view depreciation information.) ead the requirements. egin with the income statement. More info Requirements 1. Show what the company reported for supplies, plant assets, and cash flows at the end of the first year on its - income statement, - balance sheet, and - statement of cash flows (investing only). Note: The purchase of dishes and supplies is an operating cash flow because supplies are a current asset. Little City is depreciating the building over 25 years using the straight-line method, with an estimated residual value of $51,000. The furniture and fixtures will be replaced at the end of five years and are being depreciated using the double-declining-balance method, with a residual value of zero. At the end of the first year, the company still had dishes and supplies worth $1,300
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