Exercise 5-18 The comparative balance sheets of Blue Corporation at the beginning and end of the year 2017 appear below. BLUE CORPORATION BALANCE SHEETS Dec. 31, 2017 Jan. 1, 2017 Inc./Dec. Assets Cash $21,530 $14,530 $7,000 Inc. Accounts receivable 107,530 89,530 18,000 Inc. Equipment 40,530 23,530 17,000 Inc Less: Accumulated Depreciation Equipment (17,000) (11,000) 6,000 Inc. Total $152,590 $116,590 Liabilities and Stockholders' Equity Accounts payable $21,530 $16,530 5,000 Inc Common stock 101,530 81,530 20,000 Inc. Retained earnings 29,530 18,530 11.000 Inc Total $152,590 $116,590 Net income of $45,530 was reported and dividends of $34,530 were paid in 2017. New equipment was purchased and none wa Prepare a statement of cash flows for the year 2017. (Show amounts that decrease cash flour CALCULATOR FUL Total $152,590 $116,590 Net income of $45,530 was reported, and dividends of $34,530 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 BLUE CORPORATION Statement of Cash Flows $ Adjustment to reconcile net income to $ > Compute the current ratio (current assets + current liabilities) as of January 1, 2017, and December 31, 2 December 31, 2017 January 1, 2017 Current ratio nment CALCULATOR FULL SCREEN PRINTER VERSIC Compute the current ratio (current assets + current liabilities) as of January 1, 2017, and December 31, 2017. (Round ratios to 1 decimal place, 6.0.4.5.) December 31, 2017 January 1, 2017 Current ratio Compute free cash flow for the year 2017. (Show amounts that decrease cash flow with either a signe.. -15,000 or in parenthesis e.g. (15,000).) Free Cash Flow In light of the analysis in (part b), comment on Blue's liquidity and financial flexibility, Blue company has quidity and financial flexibility Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 1 used SAVE FOR LATER