Problem 5-7 Whispering Inc. had the following balance sheet at December 31, 2016. WHISPERING INC. BALANCE SHEET DECEMBER 31, 2016-Prepare the unclassified balance sheet as it would appear at December 31, 2017-Compute Whisperings free cash flow and current cash debt coverage for 2017.

$ 22,390 Accounts payable $ 32,390 Accounts receivable 23,590 Bonds payable 43,390 Investments 32,000 Common stock 102,390 Plant assets (net) 83,390 Retained earnings 25,590 Land 42,390 $203,760 $203,760 During 2017, the following occurred. 1. Whispering liquidated its available-for-sale investment portfolio at a loss of $7,390. 2. A tract of land was purchased for $40,390. 3. An additional $30,000 in common stock was issued at par. 4. Dividends totaling $12,390 were declared and paid to stockholders. 5. Net income for 2017 was $37,390, including $14,390 in depreciation expense. 6. Land was purchased through the issuance of $32,390 in additional bonds. 7. At December 31, 2017, Cash was $72,590, Accounts Receivable was $44,390, and Accounts Payable was $42,390.

Prepare a statement of cash flows for the year 2017 for Whispering.