Below are the income statement and balance sheet for Robert Inc.

Additional pieces of important include the follow:

- Equipment was sold with an original cost $50,000.

- The investments accounts includes only bonds with a 60 day term.

- Compensation deducted on the income statement includes only cash compensation.

- Income tax expense includes $4,000 of future tax savings (DTA). Roberts tax rate is 15%.

*** Prepare the 2016 cash flow statement in good form and using the indirect method. Include necessary footnotes.

(DTA). Justin's tax rate is 15 BALANCE SHEET (amounts in thousands) Assets 12/31/15 $106,600 15,000 65,000 40,000 4,000 400,000 (120,000) 4,000 $514,600 $12,000 20,000 50,000 42,000 2,000 350,000 (100,000) Investments Accounts Receivable Inventory Prepaid Expenses Property Plant and Equipment Accumulated Depreciation Deferred Tax Asset Total Assets $376,000 Liabilities &Equities Accounts payable Short-term notes payable Long-term notes payable Common stock ($10 par) Paid In Capital in Excess of Par Retained Earnings Total Liabilities & Equities $42,000 50,000 200,000 64,000 158,600 $514,600 $35,000 25,000 35, 000 150,000 60,000 71,000 $376,000