need to complete statement of cash flows

B A 1 Reed & Sons 2 3 Cash Collected from Customers 4 Cash Paid to Employees 5 Cash Paid to Suppliers 6 Cash Paid for Misc Exp 7 14,400 (14,000) (1,900) 00 9 10 1 11 12 Cash Flow from Operations 13 (1,500) 14 15 16 17 18 19 20 Cash Flow from Investing 21 Short Term Investment 22 23 1,700 24 25 26 27 28 Cash Flow from Financing Balance Sheet 1,700 Direct Cash Flow Statement Read HE Type here to search Sons entered into the following transactions during 2017. On January 1, purchased a patent for $4,000. On January 1, paid $5,000 in cash to repay part of the principal on the loan. Performed painting services for customers totaling $32,500, of which $13,000 was credit and the rest was for cash. Paid cash to employees of $14,000 for wages. This cash payment included the wag payable at December 31, 2016. Paid shareholders a cash dividend totaling $3,800. Collected $3,000 from customers for services to be delivered in a future period. Sold painting supplies to customers for $7,250 cash. The cost of the inventory sold w $3,100. Collected cash from customers of $2,200 for outstanding accounts receivable. Pald suppliers $1,900 10. Issued common stock for $5,200. 11. Invested excess cash in short-term investments of $1,700. 12. Paid misc. operating expenses of $8,500. 13. Purchased inventory on credit of $2,500. 14. The equipment is depreciated over 8 years of useful life on a straight-line basis. Record the depreciation for 2017, 15. The patent is amortized over 8 years. Record amortization for 2017. It is recorded in the patent account instead of a separate accumulated amortization account. 16. The prepaid rent on the balance sheet represents rent for two years for the rental period beginning on January 1, 2017. Record the rent that was consumed during 2017 17. The interest rate on the remaining balance in loans payable is 4%, and it will be paid in January of 2018 18. $1,500 of the services related to transaction 6 were delivered by the end of the year. 19. Tax expense for the year was $3,400 and will be repaid in 2018. irections: 1. Enter the beginning balances in the Module 4 Assignment Workbook. 2. Record the 19 transactions listed above in the template. DANA Sons Painters has a balance sheet at December 31, 2016 as fo Cash Accounts Receivable Inventory Prepaid Rent Current Assets Equipment Accumulated Depreciation Equipment, Net Noncurrent Assets Total Assets Accounts Payable Wages Payable Current Liabilities Loans Payable Noncurrent Liabilities Total Liabilities Common Stock Retained Earnings Total Shareholders' Equity Total Liabilities and Shareholders' Equity $ 12,000 3,000 5,000 9,000 29,000 27,000 (6,750) 20,250 20,250 49,250 8,240 1,000 9,240 13,000 13,000 22,240 10,500 16,510 27,010 49,250