Prepare a statement of cash tiows using the direct or indirect method following. Make reasonable assumptions ABC Inc Balance Sheets 12/31/2016 r choice) based on the 12/31/2017 ssets ABC Inc Income Statement 12 mos ending 12/31/2017 urrent Assets ash Accounts Receivable, net 14,236,295 1,400,000 2,500.000 19,658,695 1,190,000 2,460,000 201,600 23,510,295 aid e Total Current Assets 18,328.295 $22,000,000 3,200,000 8,800,000 Sales and E Cost of Sales Mach 4,400.000 1,000,000 5,400,000 4,505,000 1,300,000 5,805,000 and E ters, Furniture and Fixt (2,900,000) 2,500.000 (4,055,000 1,750,000 Net and E se 3,300,000 1,155,000 825,000 5,280,000 3,520,000 ation Ex ax se Total Assets 20,828.295 25,260.295 Total Expense Liabilities and Shareholders' Equitv Net Income t Liabilities: Other Information Equipment and com 100,000 shares of common stock sold for 10 per share Cash dividends of $150,000 were declared Accrued liabilities Dividends Payable Income taxes payable 756,000 1,200.000 120,000 300,000 2,376,000 806,000 1140,000 132,000 360,000 2,438,000 were purchased for cash Total current liabilities Term Liabilities 2,756,295 2 Total Liabilities 5,132,295 5,194,295 a. Compute Earnings per Share b. PE ratio if the stock price is $36 and the outstanding shares are 1,100,000 in 2017 Owner's Equity ital Stock Retained Earnings (Deficit) 1,000,000 4,696,000 12,000,000 8,066,000 ute the current ratio Total Share Total Liab & Stckhldrs' Equty Outstanding common shares 15,696,000 20,828.295 ,000,000.00 20,066.000 25,260,295 1100,000.00