Comparative balance sheet accounts of Coronado Inc. are presented below.

CORONADO INC. COMPARATIVE BALANCE SHEET ACCOUNTS AS OF DECEMBER 31, 2017 AND 2016
		December 31
Debit Accounts		2017		2016
Cash		$42,200		$33,900
Accounts Receivable		71,100		60,200
Inventory		30,100		24,100
Equity investments		22,500		38,700
Machinery		29,900		18,900
Buildings		67,800		56,400
Land		7,600		7,600
		$271,200		$239,800
Credit Accounts
Allowance for Doubtful Accounts		$2,200		$1,500
Accumulated DepreciationMachinery		5,700		2,300
Accumulated DepreciationBuildings		13,600		9,000
Accounts Payable		34,700		24,500
Accrued Payables		3,500		2,600
Long-Term Notes Payable		21,100		30,700
Common Stock, no-par		150,000		125,000
Retained Earnings		40,400		44,200
		$271,200		$239,800

Additional data (ignoring taxes):

1.		Net income for the year was $42,500.
2.		Cash dividends declared and paid during the year were $21,300.
3.		A 20% stock dividend was declared during the year. $25,000 of retained earnings was capitalized.
4.		Equity investments (level of ownership is less than 20%) that cost $24,800 were sold during the year for $28,600. No unrealized gains and losses were recorded on these investments in 2017.
5.		Machinery that cost $3,800, on which $750 of depreciation had accumulated, was sold for $2,250.

Coronados 2017 income statement follows (ignoring taxes).

Sales revenue					$538,000
Less: Cost of goods sold					377,700
Gross margin					160,300
Less: Operating expenses (includes $8,750 depreciation and $5,691 bad debts)					120,800
Income from operations					39,500
Other: Gain on sale of investments		$3,800
Loss on sale of machinery		(800	)		3,000
Net income					$42,500

CORONADO INC. Statement of Cash Flows For the Year Ended December 31, 2017 (Indirect Method) Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Loss on Sale of Machinery Gain on Sale of Investments Depreciation Expense Increase in Accounts Receivable (Net) Increase in Inventory Decrease in Accounts Payable Increase in Accrued Payables Net Cash Provided by Operating Activities tA tA Purchase of Investments Purchase of Machinery Addition to Buildings Sale of Investments Sale of Machinery Net Cash Used by Investing Activities Cash Flows from Financing Activities Reduction in Long-term Note Payable Cash Dividends Paid Net Cash Provided by Financing Activities Net Increase in Cash Cash, January 1, 2017 Cash, December 31, 2017 tA