please print clearly. i have included all of the available options to choose from. Thank you! i originally selected net income as the first option but I'm not sure if that's correct.

0 Income Statement 0 Balance Sheets Gibson Industries, Inc. Comparative Balance Sheets December 31, 2017 and 2016 Assets 2017 2016 958.000 383,000 Current assets Cash 575,000 $ Accounts receivable Gibson Industries, Inc. Income Statement For the Year Ended December 31, 2017 Sales revenues $ Less: Cost of goods sold Gross profit $ Less operating expenses Salaries and wages expense $ 187,000 Insurance expense 12,500 Depreciation expense 50,000 85,000 Other operating expenses Total operating expenses Operating income $ Plus other income and less other expenses 477,000 $ 79.000 330,000 7.000 Inventory Prepaid insurance Total current assets 287,000 120,000 212,000 6,500 625.500 $ 890,000 $ $ 334,500 240,500 Property, plant, and equipment Less: Accumulated depreciation 610,000 (151.000) 88,000 600.000 (111,000) 72,000 Investments Print Done Print Done income Statement Balance Sheets the indd $ Total assets $ 1.440.000 $ 1,186,500 187,000 12.500 50,000 85.000 Gibson 334500 $ Gibson nt of Cas Salaries and wages expense Insurance expense Depreciation expense Other operating expenses Total operating expenses Operating income Plus other income and less other expenses Interest expense Gain on sale of PPSE Total other income and expenses Income before income taxes $ 240,500 Currentes Accounts payable inventory purchases) Wages payable Interest payable Income taxes payable Other accrued expenses pare 56.000 16,100 1,700 62.520 39.000 17,500 600 10,500 Year Er 3.500 2.100 $ 43120 5 70.000 $ 230.400 71.520 60,000 Long-term abilities Less: income tax expense $ To 100.550 90,000 $ bites 203 120 Net income Print Done 0 Balance Sheets X 1,700 000 interesi payable Income taxes payable 62,520 6,800 10,500 3,400 Other accrued expenses payable Total current liablities $ 143,120 $ 71,000 60,000 27,000 Long-term liabilities Total liabilities 203,120 $ 98,000 $ Stockholders' equity Common stock Retained earnings Total stockholders' equity 610,000 $ 626,880 1,236,880 $ 610,000 478,500 1,088,500 $ $ 1,440,000 $ 1,186,500 Total liabilities and equity Print Done for the i Additional information + es or a C. rect Me er 31, 2 Additional information follows: a. Sold plant asset for $4,200. The original cost of this plant asset was $10,700 and it had $10,000 of accumulated depreciation associated with it. b. Paid $7,000 on the bonds payable; issued $40,000 of new bonds payable. c. Declared and paid cash dividends of $18,500. d. Purchased new investment for $16,000. Paid cash. e. Purchased new equipment for $20,700. Paid cash. Print Done Requirement Prepare a statement of cash flows for Gibson Industries, Inc., for the year ended December 31, 2017, using the Indirect method Prepare the statement one section at a time. (Use parentheses or a minus sign for numbers to be subtracted and for net cash outflows) Gibson Industries, Inc. Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2017 Operating Activities: Net income Adjustments to reconcile net income to cash basis Net cash provided by (used for) operating activities Prepare the statement one section at a time. (Use parentheses or a minus sign for numbe Gibson Industries, Inc. Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2017 Operating Activities: Cash from issuing common stock Depreciation expense Dividends paid Gain on sale of plant asset Net income Proceeds from bond issuance Proceeds on sale of plant asset Purchase of equipment Purchase of new investments Repayment of long-term debt Net cash provided by (used for) operating activities Statement of Cash Flows (Indirect Metho For the Year Ended December 31, 2017 Operating Activities: Adjustments to reconcile net income to cash basis: Cash from issuing common stock Depreciation expense Dividends paid Gain on sale of plant asset Net income Proceeds from bond issuance Proceeds on sale of plant asset Purchase of equipment Purchase of new investments Repayment of long-term debt Neu Cast proveu by (useu Tot) Operauny acuvues Investing Activities: Investing Activities: Net cash provided by (used for) investing activities Financing Activities: Net cash provided by (used for) financing activities Net increase (decrease) in cash Cash, beginning of the year Cash, end of the year Choose from any list or enter any number in the input fields and then continue to the next question nel cash provided by (used tor) operating activities Investing Activities: Cash from issuing common stock Depreciation expense Dividends paid Gain on sale of plant asset Net income Proceeds from bond issuance Proceeds on sale of plant asset Purchase of equipment Purchase of new investments Repayment of long-term debt Cash, beginning of the year Cash end of the year Financing Activities: Cash from issuing common stock Depreciation expense Dividends paid Gain on sale of plant asset Net income Proceeds from bond issuance Proceeds on sale of plant asset Purchase of equipment ch Purchase of new investments Repayment of long-term debt id then continue to the next quest