E5-16 (Preparation of a Statement of Cash Flows) A comparative balance sheet for Shabbona Corpo- ration is presented below. December 31 Assets 2007 2008 Cash $ 73,000 $ 22,000 Accounts receivable 82,000 66,000 Inventories 180,000 189,000 Land 71,000 110,000 Equipment 260,000 200,000 Accumulated depreciation equipment (69,000) (42,000) Total $597,000 $545,000 Liabilities and Stockholders' Equity $ 34,000 $ 47,000 Accounts payable 150,000 200,000 Bonds payable 214,000 164,000 Common stock ($1 par) 199,000 134,000 Retained earnings $597,000 $545,000 Total