Use the following excerpts from Victrolia Company’s financial information. 2018 Income Statment Balance Sheets Sales $455,000 Cost of Goods Sold (221,500) Operating Expenses, other than Depreciation...

Use the following excerpts from Victrolia Company’s financial information.

	2018 Income Statment	Balance Sheets
Sales	$455,000
Cost of Goods Sold	(221,500)
Operating Expenses, other than Depreciation Expense	(58,600)
Depreciation Expense	(20,000)
Gain on Sale of Plant Assets	23,500
Net Income	$178,400
		Dec. 31,2018
Cash		$329,450
Accounts Receivable		39,750
Inventory		31,000
Accounts Payable		17,550
Accured Liabilities		3,500
		Dec. 31, 2017
Cash		$133,500
Accounts Receivable		36,500
Inventory		35,000
Accounts Payable		19,550
Accured Liabilities		2,200

Additional Information:
Plant assets were sold for $45,000; book value $16,500
Dividends of $24,000 were declared and paid

Prepare a statement of cash flows (direct method) for the year 2018. Use the minus sign to indicate cash out flows, a decrease in cash or cash payments.

Victrolia CompanyStatement of Cash Flows (Direct Method)For the Year Ended December 31, 2018

Cash Flow from Operating Activities:
		$Cash Collected from Customers
Cash Payments:
	$To Suppliers of Inventory
	To Vendors for Operating Expenses	To Vendors for Operating Expenses
Net cash flows from operating activities		$fill in the blank 8
Cash Flow from Investing Activities:
	$Proceeds from Sale of Plant Assets
Net Cash Flow from Investing Activities		fill in the blank 11
Cash Flow from Financing Activities:
	$Dividends Paid
Net Cash Flow from Financing Activities		fill in the blank 14
		$Total Cash Flow Increase
Cash Balance, December 31, 2017		fill in the blank 17
Cash Balance, December 31, 2018		$fill in the blank 18

Jun 08, 2022

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Use the following excerpts from Victrolia Company’s financial information. 2018 Income Statment Balance Sheets Sales $455,000 Cost of Goods Sold (221,500) Operating Expenses, other than Depreciation...

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