Accounting 2 Question

1. Terry company's 2017 income statement and comparative balance sheets at December 31 of 2016 and 201are shown Terry Company Income Staternent For the year Ended December 31, 2017 Sales Cost ot Goods Sold $390,000 235,000 Gross Profit S155,000 S 63,000 14.000 Wages Expenses Depreciatian Expense Other Operating Expenses Incone Tax Expense 26,000 17,000 120,000 Net Income S 35,000 Terry Company Balance Sheens Dec. 3 Dec3, Assets 017 S 30,000 84,000 S 16,000 Cash Accounts Receivable (net) 28,00035,000 nventory Prepaid Expense Pant Assets Accumulatod Depreciaton 000) 62000) 110,000 2,000 8,000 178,000 130,00 Total Assets S268,000 $225,000 Liabilities and Stockholders Equity Accounts Payable Wages Payable Income Tax Payable Comrmon Stock Retained Earnings S 27,000 14,000 2,500 4,500 135000 125,000 79,000 6,000 3,000 97,000 Total Liabilities and 268,000 225.000 StockholdersEquity Cash dividends of $1T,000 were declared and paid during 2016 Plant assets of $48,000 were purchased for cash, and later in the year, an additional S10,000 common stock was issued for cash REQUIRED Prepare only the Cash Plows from Cperations section of the Cash Flow Statement using the indirect ethod Reminder: you need only prepare the Cash Flow from Operations section of the