Exercise 5-14

The comparative balance sheets of Blue Inc. at the beginning and the end of the year 2017 are as follows.

BLUE INC. BALANCE SHEETS
		Dec. 31, 2017		Jan. 1, 2017		Inc./Dec.
Assets
Cash		$ 47,450		$ 15,450		$32,000	Inc.
Accounts receivable		94,830		89,380		5,450	Inc.
Equipment		42,830		23,380		19,450	Inc.
Less: Accumulated Depreciation-Equipment		20,830		11,000		9,830	Inc.
Total		$164,280		$117,210
Liabilities and Stockholders Equity
Accounts payable		$ 23,830		$ 16,380		7,450	Inc.
Common stock		102,450		81,380		21,070	Inc.
Retained earnings		38,000		19,450		18,550	Inc.
Total		$164,280		$117,210

Net income of $47,830 was reported, and dividends of $29,280 were paid in 2017. New equipment was purchased and none was sold. Prepare a statement of cash flows for the year 2017. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)