ACCT 303 In-class & ARC Company Comparative Balance Sheets As of 12/31/16 and 12/31/17 12/11/17 41.000 123117 '12/31/16 41,800 30.000 9 AR 110.000 89.000 10 Allow. Douth Act (2.750) (2,225) 11 Inventory 150.000 135.000 12 PP&E 450.000 300.000 13 Ace Degree (65.000) (75000) 681 OSO 476,775 Notes. You may find it helpful to add additional t-accounts Constructing statement of cash flows is ke putting a puzzle together. You start with the information given od work toward solving the unknown. The account is another way of stating an algebraic equation. A l-account is the beginning balance additions s eractions the ending balance. If you know three of those you can solve for the fourth Dividend payable 12/31/16 50.000 1000 8.000 220.000 281000 100,000 95.775 476,775 350.000 150 000 RE 684010 650.000 125.000 225.000 17 AC Company Income Stalent For Year Ending 12/31/17 20 Revente 21 Cost of goods sold 22 Gross profit 23 Cain (loss) on sale of equipment 24 Depreciate expense 15 SAAN 26 Interest expense 27 Taxable income Tags expense 29 Net income (22.500) (80.000) (15000) 31 . ARC borrowed SIS0,000 on 1/1/17 to help pay for a new machine that cost $250.000 33 2. ABC sold one old machine for $57,500 35 3. ABC paid the dividend declared on 12/31/16, 374ABC paid a $10,000 dividend that was declared on 6/30/17 39 5. ABC declared a second $15,000 dividend on 12/31/17 416 Tax rate is 3596 Required: Prepare the 2017 statement of cash flows in good form. Use the indirect method information statement of cash flows Paste Copy IN Merge & Center Format Painter Clipboard BIU - E- Font HIS L13 C D ABC Company Statement of Cash Flows For Year Ending 12/31/17 5 6 Cash flow from operating activities Net income 12 15 Net cash provided by operating activities 16 17 Cash flow from investing activities 18 # 19 20 Net cash used by investing activities 22 Cash flow from financing activities 26 Net cash used by investing activities 28 Net change in cash 29 Cash balance (1/1/2017) 30 Cash balance (12/31/2017) 30,000 41.800 information statement of cash flows Type here to search