Question
Oriole Corporation's balance sheet at the end of 2016 included the following items. Current assets (Cash $82,000) $236,250 Current Liabilities 151,250 Land 32,200 Bonds Payable
Oriole Corporation's balance sheet at the end of 2016 included the following items.
Current assets (Cash $82,000) $236,250 Current Liabilities 151,250
Land 32,200 Bonds Payable 101,250
Buildings 121,250 Common Stock 182,200
Equipment 92,200 Retained Earnings 46,200
Accum. Depr. Building (31,250) Total 480,900
Accum. Depr. Equipment (11,000)
Patents 41,250
Total 480,900
The following information is available for 2017.
1.Net income was $50,870.
2.Equipment (cost $21,250and accumulated depreciation $9,250) was sold for $11,250.
3.Depreciation expense was $5,250on the building and $10,250on equipment.
4.Patent amortization was $2,500.
5.Current assets other than cash increased by $29,000. Current liabilities increased by $14,250.
6.An addition to the building was completed at a cost of $28,250.
7.A long-term investment (Equity) in stock was purchased for $16,000.
8.Bonds payable of $52,200were issued.
9.Cash dividends of $30,000were declared and paid.
10.Treasury stock was purchased at a cost of $11,000.
Create a Statement of Cash Flows for 2017
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