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Exercise 5-16 A comparative balance sheet for Grouper Corporation is presented below December 31 Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation-Equipment (71,400) (44,690)
Exercise 5-16 A comparative balance sheet for Grouper Corporation is presented below December 31 Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation-Equipment (71,400) (44,690) 2017 2016 72,710 $22,000 84,400 68,690 182,400 191,690 73,400 112,690 262,400 202,690 $603,910 $553,070 Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earning:s $ 36,400 $49,690 150,000 200,000 214,000 164,000 203,510 139,380 $603,910 $553,070 Total Additional information: 1. Net income for 2017 was $129,800. No gains or losses were recorded in 2017 2. Cash dividends of $65,670 were declared and paid 3. Bonds payable amounting to $50,000 were retired through issuance of common stock. Prepare a statement of cash flows for 2017 for Grouper Corporation. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
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