Comparative balance sheets for 2018 and 2017 and a statement of income for 2018 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided.

Additional information from the accounting records:

1. Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2018.
2. During 2018, equipment with a cost of $180,000 (90% depreciated) was sold.
3. The statement of shareholders' equity reveals reductions of $155,000 and $440,000 for stock dividends and cash dividends, respectively.

Required:
Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2018. Present cash flows from operating activities by the direct method. (Enter your answers in thousands (i.e., 5,000 should be entered as 5). Amounts to be deducted should be indicated with a minus sign.)

Comparative balance sheets for 2018 and 2017 and a statement of income for 2018 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided.

Additional information from the accounting records:

1. Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2018.
2. During 2018, equipment with a cost of $330,000 (90% depreciated) was sold.
3. The statement of shareholders' equity reveals reductions of $180,000 and $415,000 for stock dividends and cash dividends, respectively.

Required:
Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2018. Present cash flows from operating activities by the direct method.

Comparative balance sheets for 2018 and 2017 and a statement of income for 2018 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided.
METAGROBOLIZE INDUSTRIES

Comparative Balance Sheets
December 31, 2018 and 2017
($ in 000s)
2018 2017
Assets
Cash $ 580 $ 375
Accounts receivable 600 450
Inventory 900 525
Land 675 600
Building 900 900
Less: Accumulated depreciation (300 ) (270 )
Equipment 2,850 2,250
Less: Accumulated depreciation (525 ) (480 )
Patent 1,200 1,500
$ 6,880 $ 5,850
Liabilities
Accounts payable $ 750 $ 450
Accrued expenses payable 300 225
Lease liability—land 130 0
Shareholders' Equity
Common stock 3,150 3,000
Paid-in capital—excess of par 750 675
Retained earnings 1,800 1,500
$ 6,880 $ 5,850

METAGROBOLIZE INDUSTRIES
Income Statement
For the Year Ended December 31, 2018
($ in 000s)
Revenues
Sales revenue $ 2,645
Gain on sale of land 90 $ 2,735
Expenses
Cost of goods sold $ 600
Depreciation expense—building 30
Depreciation expense—equipment 315
Loss on sale of equipment 15
Amortization of patent 300
Operating expenses $ 500 1,760
Net income $ 975

Additional information from the accounting records:

Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2018.

During 2018, equipment with a cost of $300,000 (90% depreciated) was sold.
The statement of shareholders' equity reveals reductions of $225,000 and $450,000 for stock dividends and cash dividends, respectively.

Required:
Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2018. Present cash flows from operating activities by the direct method.

The comparative balance sheets for 2018 and 2017 and the income statement for 2018 are given below for Arduous Company. Additional information from Arduous’s accounting records is provided also.

Additional information from the accounting records:

1. Investment revenue includes Arduous Company’s $14 million share of the net income of Demur Company, an equity method investee.
2. Treasury bills were sold during 2018 at a gain of $2 million. Arduous Company classifies its investments in Treasury bills as cash equivalents.
3. A machine originally costing $86 million that was one-half depreciated was rendered unusable by a flood. Most major components of the machine were unharmed and were sold for $15 million.
4. Temporary differences between pretax accounting income and taxable income caused the deferred income tax liability to increase by $11 million.
5. The preferred stock of Tory Corporation was purchased for $33 million as a long-term investment.
6. Land costing $54 million was acquired by issuing $27 million cash and a 15%, four-year, $27 million note payable to the seller.
7. The right to use a building was acquired with a 15-year lease agreement; present value of lease payments, $90 million. Annual lease payments of $7 million are paid at the beginning of each year starting January 1, 2018.
8. $68 million of bonds were retired at maturity.
9. In February, Arduous issued a stock dividend (7.2 million shares). The market price of the $5 par value common stock was $7.50 per share at that time. Also the company paid a cash dividend.
10. In April, 1 million shares of common stock were repurchased as treasury stock at a cost of $17.00 million.

Required:
Prepare the statement of cash flows of Arduous Company for the year ended December 31, 2018. Present cash flows from operating activities by the direct method. (Do not round your intermediate calculations. Enter your answers in millions (i.e., 10,000,000 should be entered as 10.). Amounts to be deducted should be indicated with a minus sign.)

Comparative balance sheets for 2018 and 2017 and a statement of income for 2018 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided.

METAGROBOLIZE INDUSTRIES
Income Statement
For the Year Ended December 31, 2018 ($ in 000s)

Revenues

Sales revenue$3,078   

Gain on sale of land 60 $3,138

Expenses    

  Cost of goods sold$1,080    

Depreciation expense—building 20    

Depreciation expense—equipment 552    

Loss on sale of equipment 25   

Amortization of patent 100  

Operating expenses$400  2,177

Net income   $961

1. Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2018.
2. During 2018, equipment with a cost of $570,000 (90% depreciated) was sold.
3. The statement of shareholders’ equity reveals reductions of $220,000 and $375,000 for stock dividends and cash dividends, respectively.

Required:
Prepare the statement of cash flows for Metagrobolize Industries using the indirect method. (Enter your answers in thousands. (i.e., 10,000 should be entered as 10).) Amounts to be deducted should be indicated with a minus sign.)

Comparative balance sheets for 2018 and 2017 and a statement of income for 2018 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided.

Additional information from the accounting records:

Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2018.

During 2018, equipment with a cost of $360,000 (90% depreciated) was sold.

The statement of shareholders' equity reveals reductions of $185,000 and $410,000 for stock dividends and cash dividends, respectively.

Required:
Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2018. Present cash flows from operating activities by the direct method. (Enter your answers in thousands (i.e., 5,000 should be entered as 5). Amounts to be deducted should be indicated with a minus sign.)

Comparative balance sheets for 2018 and 2017 and a statement of income for 2018 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided.

Additional information from the accounting records:

Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2018.

During 2018, equipment with a cost of $330,000 (90% depreciated) was sold.

The statement of shareholders' equity reveals reductions of $180,000 and $415,000 for stock dividends and cash dividends, respectively.

Required:
Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2018. Present cash flows from operating activities by the direct method. (Enter your answers in thousands (i.e., 5,000 should be entered as 5). Amounts to be deducted should be indicated with a minus sign.)

METAGROBOLIZE INDUSTRIES

Statement of Cash Flows

For year ended December 31, 2018

($ in 000s)

Cash flows from operating activities:

Cash inflows:

Cash outflows:

Cash flows from investing activities:

Cash flows from financing activities:

Noncash investing and financing activities:

Comparative balance sheets for 2018 and 2017 and a statement of income for 2018 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided.

Additional information from the accounting records:

Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2018.

During 2018, equipment with a cost of $630,000 (90% depreciated) was sold.

The statement of shareholders’ equity reveals reductions of $230,000 and $365,000 for stock dividends and cash dividends, respectively.

Required:
Prepare the statement of cash flows for Metagrobolize Industries using the indirect method. (Enter your answers in thousands. (i.e., 10,000 should be entered as 10).) Amounts to be deducted should be indicated with a minus sign.)

Comparative balance sheets for 2018 and 2017 and a statement of income for 2018 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided.

Additional information from the accounting records:

a. Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2018.

b. During 2018, equipment with a cost of $660,000 (90% depreciated) was sold.

c. The statement of shareholders’ equity reveals reductions of $235,000 and $360,000 for stock dividends and cash dividends, respectively.

The comparative balance sheets for 2018 and 2017 and the income statement for 2018 are given below for Arduous Company. Additional information from Arduous’s accounting records is provided also.

   
Additional information from the accounting records:

Investment revenue includes Arduous Company’s $6 million share of the net income of Demur Company, an equity method investee.

Treasury bills were sold during 2018 at a gain of $2 million. Arduous Company classifies its investments in Treasury bills as cash equivalents.

A machine originally costing $70 million that was one-half depreciated was rendered unusable by a flood. Most major components of the machine were unharmed and were sold for $17 million.

Temporary differences between pretax accounting income and taxable income caused the deferred income tax liability to increase by $3 million.

The preferred stock of Tory Corporation was purchased for $25 million as a long-term investment.

Land costing $46 million was acquired by issuing $23 million cash and a 15%, four-year, $23 million note payable to the seller.

The right to use a building was acquired with a 15-year lease agreement; present value of lease payments, $82 million. Annual lease payments of $7 million are paid at the beginning of each year starting January 1, 2018.

$60 million of bonds were retired at maturity.

In February, Arduous issued a 4% stock dividend (4 million shares). The market price of the $5 par value common stock was $7.50 per share at that time.

In April, 1 million shares of common stock were repurchased as treasury stock at a cost of $9 million.

Prepare the statement of cash flows for Arduous Company. Use the T-account method to assist in your analysis. indirect method (Do not round intermediate calculations. Enter your answers in millions (i.e., 10,000,000 should be entered as 10.). Amounts to be deducted should be indicated with a minus sign.)