11190 Net Cash Provided by Financing Activities Net Increase in Cash 43330 82000 Cash at Beginning of Period 125330 Cash at End of Period $ Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Prepare a balance sheet at December 31, 2017. (Show only totals for current assets and current liabilities.) (List Property, Plant and Equipment in order of Land, Building and Equipment.) KINGBIRD CORPORATION Balance Sheet Assets Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity Open Show Work Click if you would like to Show Work for this question: Exercise 5-17 (Part Level Submission) Kingbird Corporation's balance sheet at the end of 2016 included the following items. Current assets (Cash $82,000) $236,770 Current liabilities $151,770 Bonds payable Land 32,190 101,770 Common stock Buildings 121,770 182,190 Retained earnings Equipment 92,190 46,190 Accum. depr.-buildings $481,920 (31,770) Total Accum. depr.-equipment (11,000) Patents 41,770 $481,920 Total The following information is available for 2017 1. Net income was $60,100. 2. Equipment (cost $21,770 and accumulated depreciation $9,770) was sold for $11,770. 3. Depreciation expense was $5,770 on the building and $10,770 on equipment. 4. Patent amortization was $2,500. 5. Current assets other than cash increased by $29,000. Current liabilities increased by $14,770. 6. An addition to the building was completed at a cost of $28,770. 7. A long-term investment (Equity) in stock was purchased for $16,000. 8. Bonds payable of $52,190 were issued. 9. Cash dividends of $30,000 were declared and paid. 10. Treasury stock was purchased at a cost of $11,000. (a) Your answer is correct Prepare a statement of cash flows for 2017. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g KINGBIRD CORPORATION rsent Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities 60100 Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities 16540 Depreciation Expense Increase in Current Liabilities 14770 230 Loss on Sale of Equipment Patent Amortization 2500 (29000) Increase in Current Assets (Other than Cash) 5040 Net Cash Provided by Operating Activities 65140 Cash Flows from Investing Activities Sale of Equipment 11770 Addition to Building (28770) (16000) Investment in Stock Net Cash Used by Investing Activities (33000) Cash Flows from Financing Activities 52190 Issuance of Bonds Payment of Dividends (30000) (11000) Purchase of Treasury Stock