Exercise 12-5

The following information is available for Wildhorse Co. for the year ended December 31, 2017.

Beginning cash balance		$ 47,340
Accounts payable decrease		3,892
Depreciation expense		170,424
Accounts receivable increase		8,626
Inventory increase		11,572
Net income		298,873
Cash received for sale of land at book value		36,820
Cash dividends paid		12,624
Income taxes payable increase		4,944
Cash used to purchase building		304,028
Cash used to purchase treasury stock		27,352
Cash received from issuing bonds		210,400

Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Wildhorse Co. Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2017 Cash Flows from Operating Activitiesv Net Income Adjustments to reconcile net income to