7 Use the following income statement and balance sheet information to put together a statement of cash flows. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 2017 Sales $1,244,000 Cost of goods sold $687,000 Gross profit $557,000 Gen'l & admin expense $157,000 Selling & mkt expense $135,000 Depreciation $25,000 Operating income $240,000 Interest $142,000 Income before taxes $98,000 Income taxes (27%) $26,460 Net income $71,540 Dividends paid $25,000 Assets 2017 2016 Cash $23,000 $9,760 Accounts receivable $124,000 $111,000 Inventory $200,000 $219,000 B Total current assets $347,000 $339,760 Gross plant and equipment $700,000 $475,000 Assets Cash Accounts receivable Inventory Total current assets 2017 2016 $23,000 $9,760 $124,000 $111,000 $200,000 $219,000 $347,000 $339,760 Gross plant and equipment Less: accum. depreciation Net plant and equipment $700,000 $475,000 $313,000 $288,000 $387,000 $187,000 Total assets $734,000 $526,760 Liabilities Accounts payable Notes payable $28,000 Total current liabilities $117,000 $102,000 $28,000 $145,000 $130,000 Long-term debt $246,000 $151,000 Total liabilities $391,000 $281,000 Common stock ($0.01 par) $4,500 $4,000 Paid-in capital $223,500 $173,300 Retained earnings $115,000 $68,460 Total stockholders' equity $343,000 $245,760 Total liabilities and equity $734,000 $526,760 Statement of Cash Flows 2017 Retained earnings $115,000 $68,460 Total stockholders' equity $343,000 $245,760 Total liabilities and equity $734,000 $526,760 S Statement of Cash Flows 2017 EST > to > C W m Se foc bas ope Sec Question > >