Presented below are the financial statements of Oriole Company 2016 Oriole Company Comparative Balance Sheets December 31 Assets 2017 Cash $81,200 Accounts receivable 46,400 Inventory 64.960 Property, plant, and equipment 139.200 Accumulated depreciation 174,240) Total $257.520 $ 46,400 32,480 46,400 180,960 (55,080 $250,560 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earning Total 544080 16,240 39,440 41.760 116,000 $257.520 $ 34,300 18,560 76,560 32,480 88,160 $250,560 Oriole Company Income Statement For the Year Ended December 31, 2017 Sales revenue 5561.440 Cost of goods sold 406.000 Gross profit 155.440 Selling expenses $41.760 Administrative expenses 13.920 55.680 Income from operations 99,760 Interest expense 6.960 Income before income 92.800 Income tax expense 185 Net income 57440 Additional data 2 3 Depreciation expense was $40.000, Dividends declared and paid were $46,400 During the year equiment was sold for $19.720 cath. This equipment cost $41760 originally and had accumulated depreciation of $22.000 at the time of sale Oriole Company Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flow from Operating Activities 74240 Net Income V Adjustments to reconcile net income to Depreciation Expense 40.600 Increase in Accounts Receivable 13920 Increase in Inventory -18560 Increase in Accounts Payable 9280 Decrease in Income To Payable 2320 15080 Net Cash Provided by Operating Activities 89320 CashPows from investing Activities Sale of one 19720 Cash Flows from Financing divities Part of Dividends -46400 Redemption of Bonds 37120 of Common Stock V 9280 Met Case Francine Artvi 340 Nese 4000 Cash Old of Period Your awer is incorrect Computer cash flow (Show a negative free cash flow with either as 15.000 or in parenthesis (15.000U Frech now 5 Textbook and Media