A comparative statement of financial position for Joseph's Company appears below: Joseph's Compny Comparative Statement of Financial Position Dec 31, 2017 Dec 31, 2016 Assets Equipment 60,000 32,000 Accumulated depreciation equipment (20,000) (14,000) Long-term investments 18,000 Prepaid expenses 6,000 9,000 Inventory 25.000 18,000 Accounts receivable 18,000 14,000 Cash 50.000 19.000 Total assets 122.000 87.000 mo Equity and Liabilities Share capital-ordinary 40,000 23,000 Retained earnings 28,000 12.290 Bonds payable 37.100 47,000 Accounts payable 17.20 7,000 Total equity and liabilities 122.000 87.000 + Additional information: 1. Net income for the year ending December 31, 2017 was 50,000 2. Cash dividends of 15,000 were declared and paid during the year 3. Long-term investments that had a cost of 18,000 were sold for 14,000 4. Sales for 2017 were 150,000 5. bonds payable amounting to 50,000 were retired through issuance of ordinary shares Instructions Prepare a statement of cash flows for the year ended December 31, 2017 using the indirect method Ghadeer and Maha decide to organize a partnership. Ghadeer invests 26,000 cash, and Maha contributes 17,000 cash and equipment having a book value of 7,000. Choose the entry to record Maha's investment in the partnership assuming the equipment has a fair value of 12,000. A Debit Cash 17,000. Credit Maha's capital 17,000 D Debit Equipment 7000. Credit Equipment 7000 Debit cash 17000 Credit equipment 17000 D Debit cash 17,000 and Equipment 12,000. Credit Maha's capital 29,000