Practice Problem 5-1 (Part Level Submission) Fowler Inc. had the following balance sheet at December 31, 2016 FOWLER INC. BALANCE SHEET DECEMBER 31, 2016 Cash Accounts receivable Investments Plant assets (net) Land $8,300 Accounts payable 12,600 Bonds payable 14,000 Common stock 36,000 Retained earnings 17,000 $87,900 $14,300 9,000 36,000 28,600 $87,900 During 2017, the following occurred 1. Net income was $28,500. 2. Depreciation expense was $7,000. 3. Fowler liquidated its investment portfolio (comprised of available-for-sale investments) realizing a $4,000 loss. 4. Fowler issued $21,000 of common stock at par. 5. Dividends of $8,200 were declared and paid to stockholders. Accounts receivable and accounts payable at December 31, 2017 were $14,900 and 6. $12,700, respectively. 7. Fowler obtained $8,000in plant assets in exchange for issuing bonds 8. Fowler purchased additional plant assets for $17,500. 9. Fowler purchased land for $19,000. 10. Cash at December 31, 2017 was $30,200. Y (a) Prepare a statement of cash flows for the year 2017 for Fowler. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) FOWLER INC Stabement of Cash Flows of bonds Plant assets purchased through issuance of SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Potential Policy set by your instructor Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSW The parts of this question must be completed in order. This part will be available when you complete the part above The parts of this question must be completed in order. This part will be available when you complete the part above