1 of 30 View Policies Current Attempt in Progress Condensed financial data of Pearl Company for 2017 and 2016 are presented below. PEARL COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 2017 2016 Cash $1,800 $1.130 Receivables 1,770 1.320 Inventory 1,560 1,890 Plant assets 1.900 1,700 Accumulated depreciation (1.20 ) (1.180) Long-term investments (held-to-maturity) 1.300 $7.110 1,430 56.290 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1.220 $890 190 250 1,410 1.520 1.870 1,730 2,420 1,900 $7.110 $6.290 * 21 PEARL COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 @ 72 2 Sales revenue $6.860 Cost of goods sold 4.710 Gross margin 2.150 Selling and administrative expenses 920 Income from operations 1230 Other revenues and gains * 22 g0 $ 54 3 #3 999 800 FA FS 76 85 > CO 6 8E 00 D 82 DD TE 82 55 4 7 8 6 Question 1 of 30 > FT Bonds payable Common stock Retained earnings 270 1,410 1,520 1.870 1,730 2,420 1,900 $7,110 $6,290 PEARL COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 Sales revenue $6,860 Cost of goods sold 4,710 Gross margin 2,150 Selling and administrative expenses 920 Income from operations 1.230 Other revenues and gains Gain on sale of investments 80 Income before tax 1,310 Income tax expense 530 Net income 780 Cash dividends 260 Income retained in business $520 Additional information: During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold i Prepare a statement of cash flows using the indirect method. Show amounts that decrease cash flow with eit in parenthesis ea (15,000) PEARL COMPANY Statement of Cash Flows #2 80 73 $ 4 54 #3 @2 999 000 " C5 75 8 28 A 96 ( = 6 FR 2 0 0 Question 1 of 30 ** * 80 22 F3 2 900 668 14 " 85 54 #3 16 H Attempts of I used 100 g= &7 > Subvend-Amer De " D " 8 61 9 0 0