Notice: your are to only prepare the operating activities section of the Cash Flow Statement. Be sure to closely review my small business cash flow example and the E12-7 page 633 that I have included just after my small business cash flow example in the Chapter 12 Module.

E12-4 page 632 : The current sections of Sunn Inc.s balance sheets at December 31,2016 and 2017, are presented here. Sunns net income for 2017 was $153,000. Depreciation expense was $27,000.

2017 2016

Current Assets

Cash $105,000 $99,000

Accounts Receivable $80,000 $89,000

Inventory $168,000 $172,000

Prepaid Expenses $27,000 $22,000

Total Current Assets $380,000 $5,000

Current Liabilities

Accrued expenses payable $15,000 $5,000

Accounts Payable $85,000 $92,000

Total Current Liabilities $100,000 $97,000

Instructions: Prepare the net cash provided by operating activities section of the companys statement of cash flows for the year ended December 31,2017, using the indirect method