Ch5 H.W (2): Preparation of Statement of cash flows preparation. Selected financial statement information and additional data for Sabahiya Co. is presented below. December 31 2017 2018 Land.. Equipment. $210,000 $75,000 550,000 750,000 Budlings. 0 250,000 Inventory. 102,000 165,000 Accounts receivable (net). 325,000 310,000 Prepaid insurance 30,000 27,000 Cash..... 80,000 220,000 TOTAL.. $1,297,000 $1,797,000 Share capital-ordinary.... $ 500,000 Retained earnings. Bonds payable - Long-term. 315,000 210,000 $748,000 508,000 258,000 Notes payable Short-term... 50,000 30,000 Accounts payable.... 125,000 136,000 12,000 7,000 85,000 $1,297,000 110,000 $1,797,000 Unearned revenues. Accumulated depreciation. TOTAL..... Additional data for 2018: 1. Land was sold for $45,000 cash. 2. A building was purchased for 250,000 cash. 3. Dividends of $35,000 were paid. 4. Equipment was purchased for $200,000 for cash. 5. Issuing $48,000 long term bonds payable for cash. 6. $248,000 ordinary shares were issued for cash. Requirement: Prepare a statement of cash flows for the year ending December 31, 2018 Solution Net Income.... Stanislaus Co Statement of Cash Flows For the year ended December 31, 2016 Cash flow from operating activities Net cash provided by operating activities Cash flow from investing activities Net cash used by investing activities. Cash flow from financing activities Net cash provided by financing activities Net increase in cash Cash at beginning of year...... Cash at end of the year... Noncash investing and financing activities