A The comparative balance sheets for Rothlisberger Company as of December 31 P17-11A The are presented below. $180,250 Prepare a statement of cash flows-indirect method. (LO) ROTHLISBERGER COMPANY Comparative Balance Sheets December 31 Assets 2017 Cash $ 81,000 Accounts receivable 41,000 Inventory 151,450 Prepaid expenses 15,280 Land 105,000 Buildings 200,000 Accumulated depreciation-buildings (60,000) Equipment 221,000 Accumulated depreciation--equipment (45,000) Total $709,730 2016 $ 45,000 62,000 142,000 21,000 130,000 200,000 (40,000) 155,000 (35,000) $680,000 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock, $1 par Retained earnings Total $ 47,730 260,000 200,000 202,000 $709,730 $ 40,000 300,000 160,000 180,000 $680,000 Additional information: 1. Operating expenses include depreciation expense of $42,000 and charges from prepaid expenses of $5,720. 2. Land was sold for cash at book value. 3. Cash dividends of $20,000 were paid. 4. Net income for 2017 was $42,000. 778 17 Statement of Cash Flows 5. Equipment was purchased for $88,000 cash. In addition, equipment costing $22,000 with a book value of $10,000 was sold for $6,000 cash. 6. Bonds were converted at face value by issuing 40,000 shares of $1 par value common stock Instructions Prepare a statement of cash flows for the year ended December 31, 2017, using the indirect method. Cash from operations $113,000