More Movies had the following financial information for 2013.  Prepare the statement of cash flows using the indirect method for the operating section.  No new equipment was purchased in 2013 and new stock was issued for cash.  Dividends were paid in cash.

More Movies Inc.
Income Statement
For Year Ended December 31, 2013
     
Revenue:    
  Sales Revenue   87,000
     
Expenses:    
Depreciation Expense 6,500  
Salaries Expense 10,000  
Rent Expense 12,500  
Utilities Expense 4,100  
Gain on Sale of Equipment -2,800  
  Total Expenses   30,300
     
Net Income   56,700

 

More Movies Inc.
Balance Sheet
December 31, 2013
             
Assets: 2013 2012   Liabilities & Equity: 2013 2012
Cash 424,550 372,300   Accounts Payable 13,750 18,750
Accounts Receivable 125,000 140,000   Taxes Payable 3,550 2,300
Supplies 2,250 2,750     Total Current Liabilities 17,300 21,050
Inventory 315,000 270,000        
 Total Current Assets 866,800  785,050    Common Stock 275,000 270,000
        Paid in capital in excess of par value, common stock 476,000 455,000
Equipment 63,500 82,500     Total Paid in Capital 751,000 725,000
Less: Accum. Depreciation (20,000) (26,000)        
  Total Plant Assets 43,500 56,500   Retained Earnings 142,000 95,500
             
TOTAL ASSETS 910,300 841,550   TOTAL LIABILITIES AND EQUITY 910,300 841,550

 

More Movies Inc.
Statement of Cash Flows
For Year Ended December 31, 2013
DescriptionAmountTotal
Subcategory,Cash Flows from Operating Activities:
Subcategory,Adjustments to reconcile net income to net cash
Single lineSingle line
Total AdjustmentsSingle lineSingle line
Single line
Subcategory,Cash Flows from Investing Activities:
Single lineSingle line
Single line
Subcategory,Cash Flows from Financing Activities:
Single lineSingle line
Single lineSingle line
Single line
Single line
Single line

 

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