Exercise 2-Constructing the statement of cash flows #2: You are the controller of the Claire Underwood Corporation. On January 1, 2018, after the 2017 fiscal year has ended, you have the following information in front of you: December 31, 2017 Assets: Cash Accounts receivable Inventories PP&E, net 2016 850 900 18,000 35,350 1,000 700 20,000 42,800 TOTAL ASSETS: Liabilities: Accounts payable Long-term debt 350 10,000 10,350 800 13,000 13,800 TOTAL LIABILITIES: Shareholders' Equity: Common stock Additional paid-in capital Retained earnings 50 4,550 20,400 25,000 5,545 23,400 29,000 TOTAL SHAREHOLDERS' EQUITY TOTAL LIABILITIES AND SHAREHOLDERS EQUITY: 42,800 35,350 During the fiscal year 2017, the following events occurred: The company paid off $2,000 of its long-term debt during the year. In addition, the company 1. borrowed S payable in 3 years 2. Depreciation expense was $3,000. 3 The compan purchased new PP&E at the amount of $8,100, in cash. 4. The company sold PP&E for $2,300 in cash. The net book value of PP&E sold was $1,600. 5. The company recorded an impairment charge of S 6. The company issued 500 shares with a par value of $0.01 (per share). The share price was $2 per t 51.00 on its PP&E share and was paid to the company in cash. Net income in 2017 was $3,500. The company declared and paid dividends during 2017 at the amount of S 7. 8. in cash. Required: 1. Find and record the missing values. 2. Fill out the worksheet below 2017 Operating Investing Financing 201 15,600 receivable Inventories PP&E, net 18,000 Accounts payable Long-term debt (13,000) Common stock (55) (50) Additional paid- (5,545) in capital Retained 03.400) earnings TOTAL: 717 Words English (US)