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You are tasked to prepare the statement of cash flows for BluePink Inc.

The company uses


the indirect method to prepare its operating cash flows.

BluePink’s income statement for 2018 is shown below:


Sales 1,340,000
Cost of Goods Sold 500,000
Gross Profit 840,000
Wages and Other Operating Expenses 300,000
Interest Expense 50,000
Depreciation Expense 160,000
Total Expenses 510,000
Operating Income 330,000
Gains & Losses
Loss on Retirement of Notes (20,000)
Loss on Sale of Plant Assets (10,000) (30,000)
Income before Tax 300,000
Income Tax Expense (60,000)
Net Income 240,000

The following information comes from the balance sheet of BluePink Inc.:

Assets 2017 2018


Cash 20,000 466,000
Accounts Receivable 170,000 68,000
Merchandise Inventory 34,000 140,000
Prepaid Expense 4,000 8,000
Plant Assets 950,000 1,510,000
Accumulated Depreciation (120,000) (260,000)
Accounts Payable 110,000 80,000
Interest Payable 86,000 8,000
Income Tax Payable 82,000 24,000
Notes Payable 380,000 680,000
Common Stock 200,000 600,000
Retained Earnings 200,000 340,000

Additional Information:
● All accounts payable balances are related to transactions concerning merchandise
inventory
● During the year, BluePink issued 12,500 shares with a par value of P32
● Acquired a new machine worth P400,000 by signing a promissory note
● Paid cash dividends worth P100,000 during the year
● Purchased an equipment with cash of P40,000 and notes payable of P200,000
● Retired a note with a book value of P100,000 by paying P120,000 cash
● Sold a building that has an original cost of P80,000 and an accumulated depreciation
of P20,000 for P50,000 cash
Name: ____________________________
Section: ___________________________

Cash Flows from Operating Activities

Net cash flows from operating activities

Cash Flows from Investing Activities

Net cash flows from investing activities

Cash Flow from Financing Activities

Net cash flows from financing activities

Net cash increase/decrease