1. Analyze the Cash Flows from Operating Activities identifying areas of strength and areas of concern:
2. Analyze the Cash Flows from Investing Activities identifying areas of strength and areas of concern :
3. Analyze the Cash Flows from Financing Activities identifying areas of strength and areas of concern:
4. Provide a summary analysis. Explain how strengths and concerns from operating activities could potentially relate to investing and financing decisions:

Cash Flows from Operating Activities Net Income 478,000 Adjustments to reconcile net income to net cash from operating activities: Depreciation expense Amortization of patents Gain on sale of building Loss on sale of land Increase in net accounts receivable Increase in inventory Increase in accounts payable Decrease in accrued liabilities Increase in income taxes payable Net cash provided(used) by operating 58,400 5,600 (34,000) 6,000 (306,000) (414,000) 106,000 (46,000) 14,000 $(132,000) Cash Flows from Investing Activities Proceeds from sale of building Proceeds from sale of land Purchase of equipment Net cash provided(used) by investing 254,000 26,000 (356,000) (76,000) Cash Flows from Financing Activities Issuance of Common Stock Increase in Long-term notes payable Payment of cash dividends Purchase of treasury stock Net cash provided(used) by financing 176,000 200,000 (24,000) (168,000) 184,000 Net change in cash Cash, January 1, 2017 Cash, December 31, 2017 (24,000) 132,000 $108,000