Exercise 23-17

Splish Inc., had the following condensed balance sheet at the end of operations for 2016.

SPLISH INC. BALANCE SHEET DECEMBER 31, 2016
Cash		$8,400		Current liabilities		$15,100
Current assets other than cash		29,300		Long-term notes payable		25,700
Equity invesments		19,800		Bonds payable		25,000
Plant assets (net)		67,700		Common stock		75,000
Land		40,400		Retained earnings		24,800
		$165,600				$165,600

During 2017, the following occurred.

1.		A tract of land was purchased for $9,100.
2.		Bonds payable in the amount of $15,000 were redeemed at par.
3.		An additional $10,000 in common stock was issued at par.
4.		Dividends totaling $9,500 were paid to stockholders.
5.		Net income was $30,400 after allowing depreciation of $13,600.
6.		Land was purchased through the issuance of $22,600 in bonds.
7.		Splish Inc. sold part of its investment portfolio for $12,700. This transaction resulted in a gain of $2,000 for the company. No unrealized gains or losses were recorded on these investments in 2017.
8.		Both current assets (other than cash) and current liabilities remained at the same amount.

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).)