Exercise 5-17 (Part Level Submission)

Oriole Corporations balance sheet at the end of 2016 included the following items.

Current assets (Cash $82,000)		$236,810			Current liabilities		$151,810
Land		32,710			Bonds payable		101,810
Buildings		121,810			Common stock		182,710
Equipment		92,710			Retained earnings		46,710
Accum. depr.-buildings		(31,810	)		Total		$483,040
Accum. depr.-equipment		(11,000	)
Patents		41,810
Total		$483,040

The following information is available for 2017.

1.		Net income was $54,680.
2.		Equipment (cost $21,810 and accumulated depreciation $9,810) was sold for $11,810.
3.		Depreciation expense was $5,810 on the building and $10,810 on equipment.
4.		Patent amortization was $2,500.
5.		Current assets other than cash increased by $29,000. Current liabilities increased by $14,810.
6.		An addition to the building was completed at a cost of $28,810.
7.		A long-term investment (Equity) in stock was purchased for $16,000.
8.		Bonds payable of $52,710 were issued.
9.		Cash dividends of $30,000 were declared and paid.
10.		Treasury stock was purchased at a cost of $11,000.

please fix the red space

Your answer is correct. Prepare a statement of cash flows for 2017. (Show amounts that decrease cash flow with either a (15,000).) sign e.g. -15,000 or in parenthesis e.g. ORIOLE CORPORATION Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities 54680 Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 16620 Loss on Sale of Equipment 190 Patent Amortization 2500 Increase in Current Assets (Other than Cash) -29000 Increase in Current Liabilities 14810 5120 Net Cash Provided by Operating Activities 59800 Cash Flows from Investing Activities Sale of Equipment 11810 Addition to Building -28810 Investment in Stock -16000 Net Cash Used by Investing Activities -33000 Cash Flows from Financing Activities Issuance of Bonds 52710 (30000 Payment of Dividends Purchase of Treasury Stock -11000 11710 Net Cash Provided by Financing Activities Net Increase in Cash 38510 82000 Cash at Beginning of Period 12051 Cash at End of Period Click if you would like to Show Work for this question: Open Show Work ZYour answer is partially correct. Try again Prepare a balance sheet at December 31, 2017. (Show only totals for current assets and current liabilities.) (List Property, Plant and Equipment Land, Building and Equipment.) ORIOLE CORPORATION Balance Sheet December 31, 2017 Assets Land Less Less Intangible Assets Patents Total Assets Liabilities and Stockholders' Equity Current Liabilities Long-term Liabilities Bonds Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Paid-in Capital and Retained Earnings Treasury Stock Less Total Stockholders' Equity Total Liabilities and Stockholders' Equity Click if you would like to Show Work for this question: Open Show Work