Ivanhoe Company Comparative Balance Sheets December 31 Assets 2017 2016 Cash Accounts receivable Inventory Land Equipment Accumulated depreciation equipment Total Liabilities and Stockholders' Equity $ 156,536 202,576 384,434 184,160 598,520 (151,932) $1,374,294 $ 50,644 174,952 435,078 230,200 460,400 (73,664) $1,277,610 Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total $ 89,778 345,300 497,232 441,984 $1,374,294 $ 98,986 460,400 400,548 317,676 $1,277,610 Additional information: 1. Net income for 2017 was $214,086. 2. Depreciation expense was $78,268. 3. Cash dividends of $89,778 were declared and paid. Additional information: 1. Net income for 2017 was $214,086. 2. Depreciation expense was $78,268. 3. Cash dividends of $89,778 were declared and paid. 4. Bonds payable amounting to $115,100 were redeemed for cash $115,100. 5. Common stock was issued for $96,684 cash. 6. No equipment was sold during 2017 7. Land was sold for its book value. Decrease in Accounts Payable (9208) 92080 Net Cash Provided by Operating Activities 306166 TCash Flows from Investing Activities - Sale of Land 32228 Purchase of Equipment Net Cash used by Investing Activities 184160 Cash Flows from Financing Activities Issuance of Common Stock 96684 Payment of Cash Dividends ( O70 Redemption of Bonds (115100 Net Cash used by Financing Activities (108194) T Net Increase in Cash 75966 Cash at Beginning of Period 156536 Cash at End of Period 232502