Question - HORNGREN'S Financial & Managerial Accounting

The income statement of Supplements Plus, Inc. follows:

SUPPLEMENTS PLUS, INC. Income Statement Year Ended September 30, 2016

Sales Revenue $ 234,000

Cost of Goods Sold $91,000

Gross Profit 143,000

Operating Expenses:

Salaries Expense $ 55,000

Depreciation Expense-Plant Assets 25,000

Total Operating Expenses 80,000

Net Income Before Income Taxes 63,000
Income Tax Expense 10,000

Net Income $53,000

Additional data follow:

a. Acquisition of plant assets is $121,000. Of this amount, $104,000 is paid in cash and $17,000 by signing a note payable.

b. Cash receipt from sale of land totals $26,000. There was no gain or loss.

c. Cash receipts from issuance of common stock total $30,000.

d. Payment of notes payable is $16,000.

e. Payment of dividends is $9,000.

f. From the balance sheet: September 30

2016 2015

Cash

Accounts Receivable $38,000 12,000

Merchandise Inventory 44,000 60,000

Plant Assets 201,000 80,000

Accumulated Depreciation (35,000) (10,000)

Land 75,000 101,000

Accounts Payable 31,000 15,000

Accrued Liabilities 20,000 26,000

Notes Payable (long-term) 17,000 16,000

Common Stock, no par 37,000 7,000

Retained Earnings 309,000 265,000

REQUIREMENTS - Prepare Supplements Plus's statement of cash flows for the year ended September 30, 2016, using the indirect method. Include a separate section for non-cash investing and financing activities.