Marigold Corp. Comparative Balance Sheets December 31 Assets 2017 2016 Change Increase/Decrease Cash $53,860 $35,660 $18,200 Increase Accounts receivable 62,260 22,070 40,190 Increase Inventory 43,860 -0- 43,860 Increase Prepaid expenses 6,040 4,030 2,010 Increase Land 55,390 70,180 14,790 Decrease Buildings 200,380 200,380 -0- Accumulated depreciation-buildings (21,090 ) (14,060 ) 7,030 Increase Equipment 182,400 67,500 114,900 Increase Accumulated depreciation-equipment (26,890) (9,900 ) 16,990 Increase Totals $556,210 $375,860 Liabilities and Stockholders' Equity Accounts payable $42,870 $39,600 $3,270 Increase Accrued expenses payable 0 9,960 9,960 Decrease Bonds payable 99,740 149,590 49,850 Decrease Common stock ($1 par) 229,840 59,820 170,020 Increase Retained earnings 183,760 116,890 66,870 Increase Totals $556,210 $375,860 Marigold Corp. Income Statement For the Year Ended December 31, 2017 Sales revenue Cost of goods sold Operating expenses $934,300 $471,790 231,350 Interest expense 11,910 Loss on disposal of equipment 1,990 717,040 Income before income taxes 217,260 Income tax expense 65,250 Net income $152,010 www Additional information: 1 Operating expenses include depreciation expense of $39.610. 2 Land was sold at its book value for cash. 3. Cash dividends of $85,140 were declared and paid in 2017. 4 Equipment with a cost of $166,390 was purchased for cash. Equipment with a cost of $51.490 and a book value of $35,900 was sold for $33,910 cash 5. Bonds of $49,850 were redeemed at their face value for cash. 6. Common stock ($1 par) of $170.020 was issued for cash. Use this information to prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign eg-15,000 or in parents Marigold Corp. Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2017 Adjustments to reconcile net income to > > > > > Question 12 of 14 < > eTextbook and Media