1. Martinez Corporation had January 1 and December 31 balances as follows. 1/1/17 12/31/17 Inventory $78,000 $93,000 Accounts payable 59,000 66,000 For 2017, cost of goods sold was $486,000. Compute Martinezs 2017 cash payments to suppliers.

Cash payments to suppliers $

2. In 2017, Grouper Corporation had net cash provided by operating activities of $552,000, net cash used by investing activities of $1,057,000, and net cash provided by financing activities of $573,000. At January 1, 2017, the cash balance was $328,000. Compute December 31, 2017, cash.

Cash, December 31, 2017

$

3.

Sage Corporation had the following 2017 income statement.

Revenues		$90,000
Expenses		62,000
		$28,000

In 2017, Sage had the following activity in selected accounts.

Accounts Receivable

1/1/17	22,000
Revenues	90,000
12/31/17	24,900

Write-offs	1,100
Collections	86,000

Allowance for Doubtful Accounts

Write-offs	1,100

1/1/17	1,100
Bad debt expense	1,800
12/31/17	1,800

(a) Prepare Sages cash flows from operating activities section of the statement of cash flows using the direct method.

Sage Corporation Statement of Cash Flows-Direct Method (Partial) December 31, 2017For the Year Ended December 31, 2017For the Quarter Ended December 31, 2017
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Decrease in Net Accounts Receivable Increase in Net Accounts Receivable Net Income Cash Received from Customers Cash Payments for Expenses		$
Decrease in Net Accounts Receivable Cash Received from Customers Cash Payments for Expenses Net Income Increase in Net Accounts Receivable
Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash		$

(b) Prepare Sages cash flows from operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Sage Corporation Statement of Cash Flows-Indirect Method (Partial) December 31, 2017For the Year Ended December 31, 2017For the Quarter Ended December 31, 2017
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash Payments for Expenses Decrease in Net Accounts Receivable Increase in Net Accounts Receivable Net Income Cash Received from Customers		$
Cash Payments for Expenses Net Income Decrease in Net Accounts Receivable Increase in Net Accounts Receivable Cash Received from Customers
Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash		$