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Statement of Cash FlowsIndirect Method

The following balances are available for Chrisman Company:

	December 31
	2017		2016
Cash	$11,800		$14,800
Accounts receivable	29,500		22,100
Inventory	23,400		39,100
Prepaid rent	13,300		8,900
Land	110,600		110,600
Plant and equipment	590,000		442,500
Accumulated depreciation	(95,900)		(44,300)
Totals	$682,700		$593,700
Accounts payable	$17,700		$14,800
Income taxes payable	4,400		7,400
Short-term notes payable	51,600		36,900
Bonds payable	111,000		148,000
Common stock	295,000		221,300
Retained earnings	203,000		165,300
Totals	$682,700		$593,700

Bonds were retired during 2017 at face value, plant and equipment were acquired for cash, and common stock was issued for cash. Depreciation expense for the year was $51,600. Net income was reported at $37,700. Required: 1. Prepare a statement of cash flows for 2017 using the indirect method in the Operating Activities section. Use the minus sign to indicate cash payments, cash outflows, or decreases in cash. Chrisman Company Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash provided by operating activities: Cash Flows from Investing Activities Cash Flows from Financing Activities Cudio i dum Cash balance, December 31, 2016 Cash balance, December 31, 2017 2. Based on its statement of cash flows, Chrisman In addition to operating activities, Chrisman generated cash