If any calculations are needed please show how you got them

P23-3. (SCFIndirect Method) (L02, 4) You have completed the field work in connection with your audit of Alexander Corporation for the year ended December 31, 2017. The balance sheet accounts at the beginning and end of the year are shown below: Cash Dec. 31, 2017 Dec. 31, 2016 Increase or (Decrease) $ 277,900 $ 238,000 ($20,100) 469 424 353,000 116,424 741,700 610,000 131,700 Accounts receivable Inventory Prepaid expenses 3,000 4,000 Investment in subsidiary -0. 110,500 12.000 110 500 2,304 207.000 Cash surrender value of life insurance 504 1,800 190,000 Machinery 17,000 127 300 Buildings 535 200 407,900 Land 52,500 69,000 Patents 52.500 64 000 50.000 5,000 (10,000) Copyrights 40,000 Bond discount and issue costs 4.S02 4 102 --- 52,522.030 $2.035 200 S486.330 Income taxes payable $ 90,250 $ 79,600 $ 10,650 Accounts payable 299 280 280,000 19,280 Dividends payable 70,000 70,000 Bonds payable9% 125.000 125,000 Bonds payable12% 100,000 40.000 (100,000) (4 700 Allowance for doubtful accounts 35, 300 424,000 400,000 Accumulated depreciationbuildings Accumulated depreciation machinery 24,000 43,000 173 000 130,000 Premium on bonds Cayable 2,400 (2.400) Common stocikno par (277,000) 109,000 Pald-in capital in excess of par common stock 1,176,200 1,453,200 109 000 0. 20.000 150.000 52,522,030 $2.035 200 Retained earningsunappropriated 470.000 S486,330 STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDED DECEMBER 31, 2017 Jariuary 1, 2017 Balance (deficit) S(450,000) March 31, 2017 Net income for first quarter of 2017 25,000 April 1, 2017 Transfer from paid-in capital 425.000 Balance -0- December 31, 2017 Net income for last three quarters of 2017 90,000 Dividend declared payable Ja.uary 21, 2018 _(70.000) Balance $ 20.000 Your working papers from the audit contain the following information: 1. On April 1, 2017, the existing deficit was written off against paid-in capital created by reducing the stated value of the no-par stock 2. On November 1, 2017, 29,600 shares of no-par stock were sold for $257,000. The board of directors voted to regard 55 per share as stated capital. 3. A patent was purchased for $15,000. 4. During the year, machinery that had a cost basis of $16,400 and on which there was accumulated depreciation of 55,200 was sold for $9,000. No other plant assets were sold during the year. 5. The 12%, 200-year bonds were dated and 155TLed on January 2, 2005. Interest was payable on June 30 and December 31. They were sold originally at 106. These bonds were redeemed at 100.9 plus accrued interest on March 31, 2017. 6. The $96, 40-year buaids wete dated January 1, 2017, and were sold on March 31 at 97 plus accrued interest. Interest is payable semiannually on June 30 and 1 December 31. Expense of issuance was $939 7. Alexander Corporation acquired 709% control in Crimson Company on January 2, 2017, for $100,000. The income statement of Crimson Corruper.y for 2017 shows a net income of $15,000. 8. Major repairs to buildings of $7,200 were charged to Accumulated DepreciationBuildings 9. Interest paid in 2017 was $10.500 and income taxes paid were $34,000. Instructions Fiorni ttie information given, prepare a staternecit of cash flows using the indirect method. A worksheet is not necessary, but the principal computations should be supported by schedules or general ledger accounts. The company iss straight-line amortization for bond interest