Presented below are data taken from the records of Teal Company. December 31, 2017 December 31, 2016 Cash $14,900 $8,000 Current assets other than cash 85,800 60,300 Long-term investments 10,100 53,300 Plant assets 333,000 215,900 $443,800 $337,500 Accumulated depreciation $19,900 $39,600 Current liabilities 39,800 22,000 Bonds payable 75,600 0 Common stock 256,000 256,000 Retained earnings 52,500 19,900 $443,800 $337,500 Additional information: 1. Held-to-maturity securities carried at a cost of $43,200 on December 31, 2016, were sold in 2017 for $34,000. The loss (not unusual) was incorrectly charged directly to Retained Earnings. 2. Plant assets that cost $50,000 and were 80% depreciated were sold during 2017 for $7,900. The loss was incorrectly charged directly to Retained Earnings. 3. Net income as reported on the income statement for the year was $56,700. 4. Dividends paid amounted to $12,800. 5. Depreciation charged for the year was $20,300. Prepare a statement of cash flows for the year 2017 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) TEAL COMPANY Statement of Cash Flows December 31, 2017For the Year Ended December 31, 2017For the Quarter Ended December 31, 2017 Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash Issuance of Bonds PayablePayment of DividendsSale of Plant AssetsLoss on Sale of Plant AssetsLoss on Sale of InvestmentsSale of InvestmentsNet IncomeDepreciation ExpenseGain on Sale of Plant AssetsIncrease in Current Assets other than CashGain on Sale of InvestmentsIncrease in Current LiabilitiesPurchase of Plant Assets $ Adjustments to reconcile net income to Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash Gain on Sale of Plant Assets Increase in Current Assets other than Cash Issuance of Bonds Payable Increase in Current Liabilities Payment of Dividends Purchase of held-to-maturity investments Sale of Plant Assets Redemption of bonds payable Decrease in current liabilities Depreciation Expense Sale of Investments Purchase of Plant Assets Gain on Sale of Investments Decrease in current assets other than cash Loss on Sale of Plant Assets Net Income Loss on Sale of Investments $ Issuance of Bonds Payable Depreciation Expense Sale of Investments Gain on Sale of Investments Loss on Sale of Investments Net Income Payment of Dividends Purchase of Plant Assets Increase in Current Liabilities Loss on Sale of Plant Assets Sale of Plant Assets Decrease in current assets other than cash Redemption of bonds payable Gain on Sale of Plant Assets Decrease in current liabilities Purchase of held-to-maturity investments Increase in Current Assets other than Cash Gain on Sale of Investments Loss on Sale of Plant Assets Decrease in current liabilities Sale of Plant Assets Purchase of Plant Assets Purchase of held-to-maturity investments Issuance of Bonds Payable Sale of Investments Payment of Dividends Decrease in current assets other than cash Increase in Current Assets other than Cash Redemption of bonds payable Increase in Current Liabilities Net Income Depreciation Expense Loss on Sale of Investments Gain on Sale of Plant Assets Loss on Sale of Plant Assets Gain on Sale of Plant Assets Issuance of Bonds Payable Payment of Dividends Purchase of Plant Assets Purchase of held-to-maturity investments Decrease in current assets other than cash Redemption of bonds payable Decrease in current liabilities Net Income Increase in Current Liabilities Sale of Investments Loss on Sale of Investments Sale of Plant Assets Depreciation Expense Increase in Current Assets other than Cash Gain on Sale of Investments Issuance of Bonds Payable Net Income Loss on Sale of Plant Assets Decrease in current liabilities Decrease in current assets other than cash Redemption of bonds payable Payment of Dividends Increase in Current Assets other than Cash Loss on Sale of Investments Gain on Sale of Investments Sale of Investments Purchase of held-to-maturity investments Increase in Current Liabilities Depreciation Expense Gain on Sale of Plant Assets Sale of Plant Assets Purchase of Plant Assets Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash Gain on Sale of Plant Assets Increase in Current Liabilities Gain on Sale of Investments Increase in Current Assets other than Cash Sale of Plant Assets Depreciation Expense Issuance of Bonds Payable Sale of Investments Decrease in current liabilities Purchase of Plant Assets Loss on Sale of Plant Assets Payment of Dividends Net Income Decrease in current assets other than cash Redemption of bonds payable Purchase of held-to-maturity investments Loss on Sale of Investments Issuance of Bonds Payable Decrease in current assets other than cash Purchase of held-to-maturity investments Sale of Plant Assets Sale of Investments Redemption of bonds payable Gain on Sale of Investments Purchase of Plant Assets Decrease in current liabilities Increase in Current Liabilities Increase in Current Assets other than Cash Net Income Payment of Dividends Depreciation Expense Loss on Sale of Investments Loss on Sale of Plant Assets Gain on Sale of Plant Assets Loss on Sale of Investments Decrease in current liabilities Depreciation Expense Increase in Current Liabilities Net Income Sale of Investments Purchase of held-to-maturity investments Gain on Sale of Investments Payment of Dividends Decrease in current assets other than cash Loss on Sale of Plant Assets Gain on Sale of Plant Assets Increase in Current Assets other than Cash Sale of Plant Assets Purchase of Plant Assets Issuance of Bonds Payable Redemption of bonds payable Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash Loss on Sale of Plant Assets Decrease in current liabilities Loss on Sale of Investments Gain on Sale of Investments Sale of Plant Assets Purchase of held-to-maturity investments Net Income Depreciation Expense Gain on Sale of Plant Assets Increase in Current Assets other than Cash Increase in Current Liabilities Sale of Investments Issuance of Bonds Payable Purchase of Plant Assets Payment of Dividends Redemption of bonds payable Decrease in current assets other than cash Purchase of held-to-maturity investments Sale of Investments Loss on Sale of Investments Depreciation Expense Increase in Current Assets other than Cash Redemption of bonds payable Decrease in current assets other than cash Payment of Dividends Purchase of Plant Assets Increase in Current Liabilities Issuance of Bonds Payable Decrease in current liabilities Gain on Sale of Investments Loss on Sale of Plant Assets Net Income Gain on Sale of Plant Assets Sale of Plant Assets Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash