Prepare the unclassified balance sheet as it would appear at December 31, 2017. (List Assets in order of liquidity.) TEAL MOUNTAIN INC. Balance Sheet December 31, 2017 Assets Cash to 30300 Accounts Receivable 15400 Plant Assets 53100 Land 36600 to 135400 Liabilities and Stockholders' Equity Accounts Payable 13500 Bonds Payable 17200 Common Stock 58200 Retained Earnings 46500 135400Compute Teal Mountain's free cash flow and current cash debt coverage for 2017. (Round current cash debt coverage to 2 decimal places, e.g. 0.56. Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Free cash flow to -10600 Current cash debt coverage :1Statement of Cash Flows For the Year Ended December 31, 201 Cash Flows from Operating Activities Net Income 26800 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 7900 Loss on Sale of Investments 3700 Decrease In Accounts Payable -2100 Increase In Accounts Receivable -2500 700 Net Cash Provided by Operating Activities 33600 Cash Flows from Investing Activities Sale of Investments 10800 Purchase of Plant Assets 16500 Purchase of Land -19500 Net Cash Used by Investing Activities -25400 Cash Flows from Financing Activities Issuance of Common Stock 21300 Payment of Cash Dividends -8200 Net Cash Provided by Financing Activities 13100 Net Increase In Cash 21500 Cash at Beginning of Year Cash at End of Year 30300 Noncash Investing and Financing Activities Plant assets purchased through issuance of $ 7100 of bondsTeal Mountain Inc. had the following balance sheet at December 31, 2016. TEAL MOUNTAIN INC. BALANCE SHEET DECEMBER 31, 2016 Cash $8,800 Accounts payable $15,600 Accounts receivable 12,900 Bonds payable 10,100 Investments 14,500 Common stock 36,900 Plant assets (net) 37,300 Retained earnings 27,900 Land 17,000 $90,500 $90,500 During 2017, the following occurred. 1. Net income was $26,800. 2. Depreciation expense was $7,900. 3. Teal Mountain liquidated its investment portfolio (comprised of available-for-sale investments), realizing a $3,700 loss. 4. Teal Mountain issued $21,300 of common stock at par. 5. Dividends of $8,200 were declared and paid to stockholders. 6. Accounts receivable and accounts payable at December 31, 2017 were $15,400 and $13,500, respectively. 7. Teal Mountain obtained $7,100in plant assets in exchange for issuing bonds. 8. Teal Mountain purchased additional plant assets for $16,600. 9. Teal Mountain purchased land for $19,600. 10. Cash at December 31, 2017 was $30,300
