From the image file prepare cash flows from operating and investing and financing .
The 20X8 comparative balance sheet and income statement of Genie Marketing, Inc., follows, Genie had no noncash investing and financing transactions during 20X8. During the year, there were no sales of land or equipment, no issuances of notes payable, no retirements of stock, and no treasury stock transactions.
Prepare the 20X8 statement of cash flows, formatting operating activities by the indirect method.
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Comparative Balance Sheet
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20X8
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20X7
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Increase (Decrease)
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Current assets:
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Cash and cash equivalents
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$8,700
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$15,600
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($6,900)
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Accounts receivanle
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46,500
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43,100
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3,400
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Interest receivable
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600
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900
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(300)
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Inventories
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94,300
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89,900
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4,400
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Prepaid expenses
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1,700
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2,200
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(500)
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Plant assets:
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Land
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35,100
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10,000
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25,100
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Equipment, net
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100,900
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93,700
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7,200
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Totla assets
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$287,800
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$225,400
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$32,400
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Current liabilities:
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Accounts payable
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$16,400
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$17,900
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($1,500)
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Interest payable
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6,300
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6,700
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(400)
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Salary payable
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2,100
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1,400
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700
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Other accured liabilities
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18,100
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18,700
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(600)
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Income tax payable
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6,300
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3,800
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2,500
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Long-term liabilities:
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Notes payable
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55,000
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65,000
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(10,000)
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Stockholder\'s equity:
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Common stock, no=par
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131,100
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122,300
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8,800
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Retained earnings
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52,500
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19,600
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32,900
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Total liabilities and stockholder\'s equity
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$287,800
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$255,400
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$32,400
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