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Pad 3:55 AM * 69%- a edugen.wileyplus.com cdn.fbsbx.co Chegg Study... WileyPLUS WileyPLUS Gmail courses.kpu.... Gmail wrist stretch... Gmail xercise 13-4 Selected information from Carla Vista Ltd.'s statement of financial position and income statement is as follows: CARLA VISTA LTD Statement of Financial Position (partial) December 31 4A 2018 2017 Current assets bl 0A Accounts receivable Inventory Prepaid expenses $8,000 6,800 3,200 $11,200 4,100 2,000 Review Results by Study Objective Current liabilities Accounts payable Income tax payable Accrued liabilities Bank loan payable-current portion 3,950 1,200 3,000 5,900 2,500 550 1,400 8,000 CARLA VISTA LTD Income Statement Year Ended December 31, 2018 Net sales Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income tax Income tax expense Net income $190,000 112,000 78,000 56,000 22,000 1,100 20,900 3,400 $17,500

Explanation / Answer

Statement of Cash Flows(Partial) For the Year Ended December 31, 2018 Cash Flows from Operating Activities: Net income 17500 Adjustments to reconcile net income to Net cash provided by operating activities Depreciation expense 11500 Loss on disposal of Equipment 5300 Decrease in Accounts receivables 3200 Increase in inventory -2700 Increase in Prepaid expenses -1200 Increase in accounts payable 1450 Increase in income taxes payable 650 Increase in accrued liabilities 1600 19800 Net cash provided by operating activities 37300

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