Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use parentheses or a minus sign for numbers to be subtracted. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.) LOOK BELOW FOR INCOME STAT AND ADDITIONAL INFO Energy Plus, Inc.
Income Statement
Year Ended September 30, 2016
Sales Revenue
$235,000
Cost of Goods Sold
99,000
Gross Profit
136,000
Operating Expenses:
Salaries Expense
$58,000
Depreciation Expense—Plant Assets
24,000
Total Operating Expenses
82,000
Net Income Before Income Taxes
54,000
Income Tax Expense
7,000
Net Income
$47,000
a. Acquisition of plant assets is
$123,000.
Of this amount,
$110,000
is paid in cash and
$13,000
by signing a note payable.
b. Cash receipt from sale of land totals
$27,000.
There was no gain or loss.
c. Cash receipts from issuance of common stock total
$28,000.
d. Payment of note payable is
$12,000.
e. Payment of dividends is
$8,000.
f. From the balance sheet:

Answer and Explanation:

The Preparation of cash flow statement is presented below:-

                                    Energy Plus, Inc.

                                 Cash flow statement

                             Year ended Sept 30, 2016

Particulars                                                          Amount

Cash flow from operating activities

Income                                            $47,000

Adjustments to Reconcile

Net Income    

Depreciation                              $24,000

Add: Decrease in Accounts

receivable                             $12,000  

Less: Increase in Inventory       -$3,000

Increase in Accounts payable    $14,000  

Less: Decrease in Accrued

Liabilities                                   -$4,000.00

Cash flow from operating

activities                                                             $90,000

Cash flow from Investing activities  

Purchase of Plant Assets         -$110,000  

Sale of Land                               $27,000  

Cash flow from Investing activities                -$83,000

Cash flow from financing activities  

Issue of Stock                   $28,000  

Repayment of Notes Payable -$12,000  

Dividends Paid                         -$8,000

Cash flow from Financing activities              $8,000

Net Increase (decrease) in cash                      $15,000

Opening cash and cash equivalents                $17,000

Closing cash and cash equivalents                 $32,000

Therefore to reach the closing cash and cash equivalents we simply added the net increase (decrease) in cash with opening cash and cash equivalents.

And, the cash inflow present in a positive sign while the cash outflow present in a negative sign

1: b     the use of non-standard grammar

2: c     strong and willful.

its correct i took the test have a nice day: )

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