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2017 2016 45,000 58,000 142,000 21,000 130,000 200,000 (40,000) 155,000 (35,000) Assets 68,000 0,000 151,450 15,280 145,000 200,000 (60,000) 225,000 (45,000) 749,730 Accounts receivable Prepaid
2017 2016 45,000 58,000 142,000 21,000 130,000 200,000 (40,000) 155,000 (35,000) Assets 68,000 0,000 151,450 15,280 145,000 200,000 (60,000) 225,000 (45,000) 749,730 Accounts receivable Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Total 676,000 Liabilities and Stockholders Accounts payable Bonds payable Common stock, $1 par Retained earnings Total 44,730 300,000 200,000 205,000 $749,730 36,000 300,000 160,000 180,000 676,000 Additional information: 1. Operating expenses include depreciation expense of $42,000. 2. Land was sold for cash at book value 3. Cash dividends of $12,000 were paid. 4. Net income for 2017 was $37,000. 5. Equipment was purchased for $92,000 cash. In addition, equipment costing $22,000 with a book value of $10,000 was sold for $8,000 cash. 6. 40,000 shares of $1 par value common stock were issued in exchange for land with a fair value of $40,000. Instructions Prepare a statement of cash flows for the year ended December 3,2017, using the indirect method
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