Prepare Smart Companys statement of cash flows for the year ended June 30, 2017. Prepare the statement of cash flows using the indirect method. Note: For full credit, you must prepare the statement of cash flow in good form with all necessary disclosures, including disclosures about noncash financing and investing activities.

FACTS:

					Account Balances
					###########	###########
Debits
Cash					$ 361,700	$ 880,550
Accounts Receivable					100,000	125,000
Marketable Securities (at cost)					11,700	13,000
Allowance for Change in Value					1,500	1,800
Construction in Process					168,750	405,000
Prepaid Expenses					45,000	10,000
Investments (long-term)					-	13,500
Leased Equipment					-	20,000
Building					30,000	-
Deferred tax asset					5,375	2,200
Land					10,500	10,500
Discount on Bonds Payable					-	1,305
Totals					734,525	1,482,855
Credits
Allowance for doubtful accounts					$ 6,000	$ 4,500
Accounts Payable					87,500	210,000
Deferred tax liability					1,000	3,300
Income Taxes Payable					3,500	9,000
Note Payable (long-term)					3,500	-
Accumulated Depreciation on Building					2,500	-
Accumulated Depreciation on Leased Asset					-	3,000
Lease obligation					-	18,000
Interest payable on lease obligation					-	1,800
Interest payable (Bonds)					-	1,800
Bonds payable					-	45,000
Billings on contruction in process					150,000	325,000
Pension liability					150,000	400,000
Convertible preferred stock, $100 par					9,000	-
Common Stock, $10 par					14,000	24,500
Additional Paid-in Capital					8,700	13,700
Unrealized Increase in Value of Marketable Securities					1,500	1,800
Retained Earnings					297,325	421,455
Totals					734,525	1,482,855

TEMPLET:

Smart Construction Company
Statement of Cash Flows
For Year Ended June 30, 2017
Operating Activities:
Net Income
Adjustments for noncash income items:
Adjustments from cash flow effect from working capital items:
Net cash provided (used) by operating activities
Investing activities:
Net cash provided (used) by investing activities
Financing Activities:
Net cash provided (used) by financing activities
Net increase in cash (see Schedule 1)
Cash, June 30, 2016
Cash, June 30, 2017
Schedule 1: Investing and Financing Activities Not Affecting Cash