Prepare the companies statement of cash flows:

Income statement:

Sales $180,000

Cost of Goods Sold ($110,000)

Depreciation Expense ($30,000)

Operating Expense ($18,000)

Loss on sale of land ($1,000)

Gain on the sale of equipment $5,000

Net income $26,000

Balance Sheet- 2017/2016

Cash- $35,000 (2017)/ $53,000 (2016)

AR- $25,000 / $32,000

Inventory- $40,000 / $32,000

Prepaid Expense- $5,000 / $4,000

Investments- $15,000 / $10,000

Land- $15,000 / $18,000

Build & Equip, net- $145,000 / $122,000

Total Assets- $280,000 / $271,000

Acct. Pay- $18,000 / $13,000

Interest Payable- $17,000 / $25,000

Salaries Payable- $15,000 / $10,000

Notes Payable- $20,000 / $30,000

Bonds Payable- $30,000 / $35,000

Common Stock- $143,000 / $133,000

Retained Earnings- $37,000 / $25,000

Total Liabilities & Equity- $280,000 / $271,000

Additional Information:

- Purchased investments

- Purchased $56,000 of equipment

- Paid off $10,000 of notes payable by issuing common stock

- Paid dividends

- Sold equipment with a book value of $3,000 for a gain of $5,000

- Sold land for a loss of $1,000