Answer in detail and please explain

Question 1: Following is a list of items taken from the December 31, 2017, balance sheet of XYZ Company (amounts omitted):

Accounts payable

Goodwill

Accrued expenses

Income taxes payable

Accumulated depreciationbuildings

Land

Accumulated depreciationmachinery and equipment

Machinery and equipment

Bonds payable

Notes payable to banks (short term)

Buildings

Preferred stock

Cash

Prepaid expenses

Common stock

Raw materials

Contributed capital in excess of par

Retained earnings

Current portion of long-term debt

Short-term investments

Deferred tax liability (noncurrent)

Trade accounts receivable

Finished products inventory

Trademarks

Work-in-process inventory

Required:

Using the above information, prepare classified balance sheet in good form.

Question 2:

The following information is available from Sand Corporation's accounting records for the year ended December 31, 2017:

Cash received from customers

$ 870,000

Rent received

10,000

Cash paid to suppliers and employees

510,000

Taxes paid

110,000

Cash dividends paid

30,000

Required:

Compute cash flow provided by operations for 2017.