Boca Inc.
Balance Sheets
December 31
		Assets						2018		2017
		Cash						60,800		48,400
		Accounts Receivable						87,800		38,000
		Inventory						102,850		112,500
		Prepaid Expenses						28,400		26,000
		Long-term Investments						138,000		109,000
		Plant Assets						347,000		242,500
		Accumulated depreciation						(50,000)		(52,000)
		Total						714,850		524,400
		Liabilities and Stockholders' Equity
		Accounts Payable						67,300		72,000
		Accrued Expenses Payable						21,000		13,500
		Dividends Payable						3,000		-
		Bonds Payable						170,000		146,000
		Common Stock						262,000		175,000
		Retained Earnings						191,550		117,900
		Total						714,850		524,400
Additional Information:
1. Old plant assets having an original cost of $57,500 and accumulated depreciation of $48,500 were sold for $1,500 cash.
2. A new plant asset was purchased directly in exchange for common stock valued at $42,000.
3. New bonds were issued at par for $60,000.
4. 2018 Net income was $154,480.
5. A $1,000 prior period adjustment was recorded in 2018 to correct an understatement of depreciation in 2015. The 2017 balance sheet is appropriately restated.
6. Accounting for the long-term investments was appropriately using the equity method. Bocas share of investee net income was $20,000. Other changes in Long-term investments were caused by additional stock purchases. No dividends were received.
Required
1. Prepare a 2018 statement of cash flows using the indirect method. Use the textbook format (pages 1,339, 1,342, 1,345). Do not submit supporting computations.