Homework Assignment #10 Due Date: Tuesday, April 23, 2019 To be submitted through Blackboard by 4 pm. Exercise 1-Constructing the statement of cash flows: You are the controller of the Frank Underwood Corporation. On January 1, 2018, after the 2017 fiscal year has ended, you have the following information in front of you: December 31, Assets: Cash Accounts receivable Inventories Prepaid expenses PP&E, net Intangible assets, net 2017 $4,947 620 10,310 460 14,000 4,700 35,037 2016 $2,490 540 9,450 325 13,200 4,900 30,905 TOTAL ASSETS Liabilities: Accounts payable Accrued liabilities Unearned revenue Long-term debt 460 1,100 130 7,300 8,990 640 780 250 8,100 9,770 TOTAL LIABILITIES: Shareholders' Equity: Common stock Additional paid-in capital Retained earnings 6,400 19,640 26,047 4,350 16,780 21,135 TOTAL SHAREHOLDERS' EQUITY TOTAL LIABILITIES AND SHAREHOLDERS EQUITY: 35,037 30,905 MacBook Pro During the fiscal year 2017, the following events occurred: The company issued long-term debt in the amount of $1,200. Some of the debt at the beginning 1. of the year was paid in 2017 2. Depreciation expense was $2,000. 3. The company purchased new PP&E, in cash. The company did not sell any of its PP&E in 2017 There was no impairment of PP&E in 2017. 4. The company issued 20 shares with a par value of SO.1 per share. In return, the company received a total of $2,052 in cash. The company declared and paid a S560 dividend during 2017. 6. 5. Net income in 2017 was $ (use the information provided to find out). Required: Prepare the statement of cash flows for the year ended December 31, 2017, using the indirect method. Specifically: 1. 2. Fill out the worksheet below. Compose a properly formatted cash flow statement. Financing Investing Operating 2016 TOTAL 717 Words English (US) 3 of 6 MacBo