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P3.22Statement of Cash Flow. Presented below are the financial statements for the Amphlett Corporation, as of year-end 2016 and 2015 AMPHLETT CORPORATION Consolldated Balance Sheets
P3.22Statement of Cash Flow. Presented below are the financial statements for the Amphlett Corporation, as of year-end 2016 and 2015 AMPHLETT CORPORATION Consolldated Balance Sheets As of Year-End (S thousands) 2016 2015 Assets Current 200,000 440,000 615,000 Inventory 600,000 Noncurrent Long-term i 310,000 390,000 (500,000) (500,000 600,000 105,000 95,000 Llablltles & Shareholders' Equity 190,000 1.090.000 850,000 As of Year-End ($ thousands) 2016 2015 Shareholders' equity 380,000 865,000 300,000 415,000 Retained earni ngs . . . AMPHLETT CORPORATION Consolldated Income Statement For Year Ended ( thousands) 2016 2015 Gross margin... Operating income Net income before taxes . _. . . . ._ . .. . . .. . . 500,000 930,000 150,000 780,000 70,000 850,000 50,000 420,000 780,000 120,000 660,000 . . . 660,000 11,000 . . . . .. .. . . .. 1. Property and equipment costing S450 million was sold for its book value of $200 million 2. Long-term investments were sold for S150 million, which included a gain of S70 million Required Using the above financial data for the Amphlett Corporation, prepare the firm's statement of cash flow for 2016 using the indirect method. What does the company's statement of cash flow reveal about the business's financial health
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