Please prepare a statement of cash flows and an unclassified balance sheet as it would appear at December 31, 2017Also compute two cash flow ratios:Current cash debt ration :1 Current debt coverage ratio:1

LUS WileyPLUS: MyWileyPLUS | Help | Contact Kieso, Intermediate Accounting, 16e INTERMEDIATE ACCOUNTING ( CALCULATOR MESSAGE MY INSTRUCTOR STANDARD VIEW PRINTER VERSION URCES BACK Problem 5-6 Sandhill Inc. had the following balance sheet at December 31, 2016. SANDHILL INC. Study BALANCE SHEET DECEMBER 31, 2016 Cash $23,230 Accounts payable $33,230 Accounts receivable 24,430 Notes payable (long-term) 44,230 Investments 35,230 Common stock 103,230 Plant assets (net) 81,000 Retained earnings 26,430 Land 43,230 $207,120 $207,120 During 2017, the following occurred. Sandhill Inc. sold part of its investment portfolio for $16,408. This transaction resulted in a gain of $4,808 for the firm. The company classifies its investments as available-for-sale. A tract of land was purchased for $16,230 cash. Long-term notes payable in the amount of $17,408 were retired before maturity by paying $17,408 cash. An additional $21,408 in common stock was issued at par. Dividends of $9,608 were declared and paid to stockholders. Net income for 2017 was $35,230 after allowing for depreciation of $12,408. Land was purchased through the issuance of $38,230 in bonds. At December 31, 2017, Cash was $40,230, Accounts Receivable was $44,830, and Accounts Payable remained at $33,230. Your answer is partially correct. Try again. Prepare a statement of cash flows for 2017. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) SANDHILL INC. Statement of Cash Flows [For the Year Ended December 31, 2017 P O MacBook Pro