Problem 5-6 Crane Inc. had the following balance sheet at December 31, 2016 CRANE INC. BALANCE SHEET DECEMBER 31, 2016 $33,760 44,760 103,760 26,960 209,240 Cash $23,760 Accounts payable Accounts receivable 24,960 Notes payable (long-term) 35,760 Common stock Plant assets (net) 81,000 Retained earnings 43,760 Land 209,240 During 2017, the following occurred. 1. Crane Inc. sold part of its investment portfolio for $17,060. This transaction resulted in a gain of $5,460 for the firm. The company dlassifies its investments as available-for-sale 2. A tract of land was purchased for $16,760 cash 3. Long-term notes payable in the amount of $18,060 were retired before maturity by paying $18,060 cash. 4. An additional $22,060 in common stock was issued at par S. Dividends of $10,260 were declared and paid to stockholders 6. Net income for 2017 was $35,760 alfter allowing for depreciation of $13,060 7. Land was purchased through the issuance of $38,760 in bonds 8. At December 31, 2017, Cash was $40,760, Accounts Receivable was $45,360, and Accounts Payable remained at $33,760 Prepare a statement of cash flows for 2017. (Show amounts that decrease cash flow with either a -sign e.g.-15,000 or in parenthesis e.g. (15,000).) CRANE INC Statement of Cash Flows Adjustments to reconcille net income to Land purchased through issuance of$ of bonds Prepare an unclassified balance sheet as it would appear at December 31, 2017. (List Assets in order of liquidity. CRANE INC Balance Sheet Assets Liabilities and Stockholders' Equity Land purchased through issuance of $ of bonds Prepare an unclassified balance sheet as it would appear at December 31, 2017. (List Assets in order of liquidity CRANE ING Balance Sheet Assets Liabilities and Stockholders' Equity Compute two cash flow ratios. (Round ratios to 2 decimal places, e.g.0.62.) Current cash debt coverage ratio Cash debt coverage ratio