Homework answers / question archive / The following income statement and comparative balance sheet for GIG Worker Company is provided as follows: Income Statement For the Year Ended December 31, 2017 Sales 3,450 Cost of goods sold 2

The following income statement and comparative balance sheet for GIG Worker Company is provided as follows: Income Statement For the Year Ended December 31, 2017 Sales 3,450 Cost of goods sold 2

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The following income statement and comparative balance sheet for GIG Worker Company is provided as follows: Income Statement For the Year Ended December 31, 2017 Sales 3,450 Cost of goods sold 2.350 Gross profit 1.100 Selling and administrative expenses 465 $ 635 40 Other revenues and gains Gain on sale of investments Income before tax Income tax expense Net income 675 270 405 $ $75 650 950 During the year 2017, a dividend of $130 was declared and paid by management of GIG Worker Company. Some plant assets were purchased during 2017 and the payment was settled by issuing common stock amounting to $35. Comparative Balance Sheet As on December 31, 2017 and 2016 2017 2016 Assets: Cash and cash equivalents $ 900 Accounts receivable 875 Inventory Plant assets 950 850 Accumulated depreciation (600) (585) Long-term investments 650 710 Total 3.575 $ 3.150 Liabilities and capital: Accounts payable 600 450 Accrued liabilities 100 125 Bonds payable 700 775 Capital stock 950 850 Retained earnings 1.225 950 Total 3.575 $ 3.150 800 Requirements: 1. Prepare Cash flow statement using indirect method. 2. Is this mature company? explain