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Presented below is a condensed version of the comparative balance sheets for Windsor Corporation for the last two years at December 31. 2017 2016 Cash
Presented below is a condensed version of the comparative balance sheets for Windsor Corporation for the last two years at December 31.
2017 | 2016 | |||||
Cash | $ 309,750 | $ 136,500 | ||||
Accounts receivable | 315,000 | 323,750 | ||||
Investments | 91,000 | 129,500 | ||||
Equipment | 521,500 | 420,000 | ||||
Accumulated Depreciation-Equipment | (185,500 | ) | (155,750 | ) | ||
Current liabilities | 234,500 | 264,250 | ||||
Common stock | 280,000 | 280,000 | ||||
Retained earnings | 537,250 | 309,750 |
Additional information: Investments were sold at a loss of $17,500; no equipment was sold; cash dividends paid were $52,500; and net income was $280,000.
Prepare a statement of cash flows for 2017 for Windsor Corporation. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
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