ENT RESOURCES Condensed financial data of Wildhorse Company for 2017 and 2016 are presented below. N 02 se 23-11 se 23-1 WILDHORSE COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 2016 2017 Score Results by StudyCash $1,790 $1,170 1,780 1,310 1,580 1,900 1,900 1,720 (1,180 (1,140) 1,310 1,420 $ 180 $6,380 Receivables Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) $1,220 210 1,380 1,930 2,440 $7,180 $880 240 1,550 1,660 2,050 $6,380 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings T RESOURCES 2 23-11 23-12 WILDHORSE COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 $6,690 4,650 2,040 930 1,110 Sales revenue Cost of goods sold Gross margin Selling and administrative expenses Income from operations Other revenues and gains re sults by Study 90 1,200 550 650 260 $390 Gain on sale of investments Income before tax Income tax expense Net income Cash dividends Income retained in business Additional information: During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2017. Prepare a statement of cash flows using the direct method. (Show amounts in the investing and financing sections t e.g.-15,000 or in parenthesis e.g. (15,000).) NT RESOURCES WILDHORSE COMPANY Statement of Cash Flows 02 23-11 23-1 Direct Method) core Results by Study Open Show Work Click if you would like to Show Work for this