Booster Company is preparing its financial statements for the year ended June 30, 2018. The financial statements are complete except for the statement of cash flows. You have been asked to prepare a statement of cash flows for the year ended June 30, 2017.

Booster Company A1 Company Facts:

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Account Balances June 30, 2017 June 30, 2018 Debits $ $ L 361,700 100,000 11,700 1,500 168,750 45.000 Cash Accounts Receivable Marketable Securities (at cost) Allowance for Change in Value Construction in Process Prepaid Expenses Investments (long-term) Leased Equipment Building Deferred tax asset Land Discount on Bonds Payable Totals 880,550 125,000 13,000 1,800 405,000 10,000 13,500 20,000 30,000 5,375 10,500 2.200 10,500 1,305 1,482,855 734,525 $ 4,500 210,000 3,300 9,000 Credits Allowance for doubtful accounts Accounts Payable Deferred tax liability Income Taxes Payable Note Payable (long-term) Accumulated Depreciation on Building Accumulated Depreciation on Leased Asset Lease obligation Interest payable on lease obligation Interest payable (Bonds) Bonds payable Billings on contruction in process Pension liability Convertible preferred stock, $100 par Common Stock, $10 par Additional Paid-in Capital Unrealized Increase in Value of Marketable Securities Retained Earnings Totals 6,000 $ 87,500 1,000 3,500 3,500 2,500 - - - - - 150,000 150,000 9,000 14,000 8,700 | 1,500 297,325 734,525 3,000 18,000 1,800 1,800 45,000 325,000 400,000 24,500 13,700 1,800 421,455 1,482,855 Additional information: a. Dividends declared and paid totaled $650. b. 300 shares of common stock (at par) were issued for cash. c. On July 1, 2017, convertible preferred stock that had originally been issued at par value were converted into 500 shares of common stock. The book value method was used to account for the conversion d. The long-term note payable was paid by issuing 250 shares of common stock at the beginning of the fiscal year. e. Short-term marketable securities were purchased at a cost of $1,300. The portfolio was increased by $300 to a $14,800 fair value at year-end by adjusting the related allowance account. f. During the year, a 30% interest in Ricochet Co. was purchased as an investment for $9,500. Ricochet reported $20,000 in net income for the year and paid dividends of $2,000 to Smart. g. $5,000 of accounts receivable were written off as uncollectible during the year. h. Booster's inventory consists of Construction-in-Process in excess of the Billings on Construction-in-Process account balance. i. A building was destroyed by fire during the year and insurance proceeds of $26,000 were collected. j. The 12% bonds payable were issued on February 28, 2018, at 97. They mature on February 28, 2028. The company uses the straight-line method to amortize bond premiums and discounts. k. Booster recorded pension expense of $350,000 for the year. 1. A lease agreement was signed on July 1st, 2017 for the use of equipment worth $20,000. The company determined that the transaction should be recorded as a capital lease. BOOSTER CONSTRUCTION COMPANY Cash Flows Worksheet For Year Ended June 30, 2018 Balances 6/30/2017 6/30/2018 Change Increase (Decrease) Worksheet Entries Debit Credit Account Titles Debits Noncash Accounts: Credits Cash Flows from Operating Activities: Cash Flows from Investing Activities: Cash Flows from Financing Activities Investing and Financing Activities Not Affecting Cash: Net Increase in Cash Totals Booster Construction Company Statement of Cash Flows For Year Ended June 30, 2018 Operating Activities: Net Income Adjustments for noncash income items: Adjustments from cash flow effect from working capital items: Net cash provided (used) by operating activities Investing activities: Net cash provided (used) by investing activities Financing Activities: Net cash provided (used) by financing activities Net increase in cash (see Schedule 1) Cash, June 30, 2017 Cash, June 30, 2018 Schedule 1: Investing and Financing Activities Not Affecting Cash