Based on the information provided below for Nash Company prepare a statement of cash flows using the Direct and Indirect methods. Prepare the statements on this worksheet below the data provided. Submit the worksheet provided in Excel. Show all your work. Grading will be roughly based on the accuracy of the statements prepared and the correct presentation of the statements.

	NASH COMPANY
	COMPARATIVE BALANCE SHEET
	AS OF MAY 31
			2017		2016
	Current assets
	Cash		$28,300		$20,100
	Accounts receivable		74,800		57,600
	Inventory		219,200		249,500
	Prepaid expenses		8,900		7,100
	Total current assets		331,200		334,300
	Plant assets
	Plant assets		596,000		505,100
	Less: Accumulated depreciationplant assets		150,400		124,300
	Net plant assets		445,600		380,800
	Total assets		$776,800		$715,100
	Current liabilities
	Accounts payable		$122,200		$114,700
	Salaries and wages payable		47,700		72,100
	Interest payable		26,700		24,700
	Total current liabilities		196,600		211,500
	Long-term debt
	Bonds payable		70,000		100,000
	Total liabilities		266,600		311,500
	Stockholders equity
	Common stock, $10 par		370,000		280,000
	Retained earnings		140,200		123,600
	Total stockholders equity		510,200		403,600
	Total liabilities and stockholders equity		$776,800		$715,100
	NASH COMPANY
	INCOME STATEMENT
	FOR THE YEAR ENDED MAY 31, 2017
	Sales revenue		$1,255,000
	Cost of goods sold		715,500
	Gross profit		539,500
	Expenses
	Salaries and wages expense		251,700
	Interest expense		74,300
	Depreciation expense		26,100
	Other expenses		8,100
	Total expenses		360,200
	Operating income		179,300
	Income tax expense		43,200
	Net income		$136,100
	The following is additional information concerning Nashs transactions during the year ended May 31, 2017.
1	All sales during the year were made on account.
2	All merchandise was purchased on account, comprising the total accounts payable account.
3	Plant assets costing $90,900 were purchased by paying $21,900 in cash and issuing 6,900 shares of stock.
4	The other expenses are related to prepaid items.
5	All income taxes incurred during the year were paid during the year.
6	In order to supplement its cash, Nash issued 2,100 shares of common stock at par value.
7	Cash dividends of $119,500 were declared and paid at the end of the fiscal year.