Make a cash flow statement using the information provided as well as the additional data for 2016:

Balance sheet:

December 31 2015

Cash..........................................................$52,000

Accounts receivable (net)............................64,000

Inventory...................................................178,000

Land..........................................................78,800

Equipment..................................................504,000

TOTAL............................................$876,800

Accumulated depreciation..........................$94,000

Accounts payable.......................................50,400

Notes payable - short-term.........................67,200

Notes payable - long-term..........................178,000

Common stock...........................................420,000

Retained earnings.......................................67,200

TOTAL............................................$876,800

Trial balance

December 31, 2016

.................................................................DRCR

Cash..........................................................$60,000

Accounts receivable ................................75,000

Allowance for doubtful accounts................................. ..4,500

Inventory...................................................148,000

Land..........................................................58,600

Equipment..................................................620,000

Accumulated depreciation...........................40,000

Accounts payable.......................................48,300

Notes payable - short-term.........................24,200

Notes payable - long-term..........................154,000

Common stock...........................................420,000

Retained earnings.......................................67,200

Sales revenue.............................................630,500

Cost of goods sold.................................285,000

Salary expense.......................................95,000

Advertising expense.................................14,600

Depreciation expense..............................10,000

Bad debt expense....................................2,500

Other expense..........................................20,000

Additional data for 2016:

1.Land was sold at its original cost.

2.Equipment was purchased

3.Notes were repaid