Exercise 13-7 (Part Level Submission) Rojas Corporations comparative balance sheets are presented below.

ROJAS CORPORATION Comparative Balance Sheets December 31
2017	2016
Cash	$14,200	$11,000
Accounts receivable	21,500	23,500
Land	19,600	25,800
Buildings	70,100	70,100
Accumulated depreciationbuildings	(15,400	)	(10,500	)
Total	$110,000		$119,900
Accounts payable	$11,900	$27,700
Common stock	75,900	73,600
Retained earnings	22,200		18,600
Total	$110,000		$119,900

Additional information:

1.	Net income was $22,500. Dividends declared and paid were $18,900.
2.	No noncash investing and financing activities occurred during 2017.
3.	The land was sold for cash of $4,900.

(a) Prepare a statement of cash flows for 2017 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).)

ROJAS CORPORATION Statement of Cash Flows December 31, 2017For the Month Ended December 31, 2017For the Year Ended December 31, 2017
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Gain on Disposal of LandIssuance of Common StockIncrease in Accounts PayableNet IncomeSale of LandPayment of DividendsLoss on Disposal of LandDepreciation ExpenseIncrease in Accounts ReceivableDecrease in Accounts ReceivableDecrease in Accounts Payable	$
Adjustments to reconcile net income to
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Decrease in Accounts ReceivableIncrease in Accounts PayablePayment of DividendsSale of LandIssuance of Common StockDepreciation ExpenseIncrease in Accounts ReceivableLoss on Disposal of LandGain on Disposal of LandNet IncomeDecrease in Accounts Payable	$
Issuance of Common StockSale of LandGain on Disposal of LandPayment of DividendsNet IncomeDecrease in Accounts PayableIncrease in Accounts PayableDepreciation ExpenseLoss on Disposal of LandIncrease in Accounts ReceivableDecrease in Accounts Receivable
Decrease in Accounts ReceivableLoss on Disposal of LandNet IncomeIncrease in Accounts ReceivableDepreciation ExpenseIssuance of Common StockDecrease in Accounts PayableIncrease in Accounts PayableSale of LandPayment of DividendsGain on Disposal of Land
Loss on Disposal of LandIncrease in Accounts PayableDecrease in Accounts ReceivableIssuance of Common StockIncrease in Accounts ReceivableGain on Disposal of LandPayment of DividendsDepreciation ExpenseNet IncomeDecrease in Accounts PayableSale of Land
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Loss on Disposal of LandIncrease in Accounts PayableIssuance of Common StockGain on Disposal of LandNet IncomeDecrease in Accounts PayableSale of LandDecrease in Accounts ReceivableIncrease in Accounts ReceivablePayment of DividendsDepreciation Expense
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Net IncomeLoss on Disposal of LandDecrease in Accounts ReceivableIncrease in Accounts PayableDecrease in Accounts PayableDepreciation ExpenseIssuance of Common StockIncrease in Accounts ReceivableSale of LandGain on Disposal of LandPayment of Dividends	$
Sale of LandGain on Disposal of LandIssuance of Common StockDecrease in Accounts PayableDecrease in Accounts ReceivableIncrease in Accounts PayablePayment of DividendsNet IncomeDepreciation ExpenseLoss on Disposal of LandIncrease in Accounts Receivable
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash	$