Ques. C3 Following are the comparative balance sheet of Berkler Company. On the basis of the accounting data and additional information you are requested to prepare Statement of Cash flow for the year ended 2016 BERKLER COMPANY Comparative Balance Sheets Assets Cash Accounts receivable Inventory Prepaid expense Land 2016 2015 96000 78000 76000 70000 52000 55000 22000 18000 110000 144000 300000 300000 Accumulated depreciation264000 210000 Buildings 60000-50000 Accumulated depreciation 90000-80000 770000 745000 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock $1 par value 170000 120000 Retained earning 26000 35000 350000 400000 224000 190000 770000 745000 Additional information: 1 Operating expenses include depreciation expense of $48,000. 2 Land was sold for cash at book value. 4 Net income for 2016 was $46,000. 5 costing $34000 with a book value of $6000 was sold for $9000 cash. 6 $1 par value common stock. 3 Cash dividends of $12,000 were paid Equipment was purchased for $88,000 cash. In addition equipment Bonds were convert data face value by issuing 50000 share of (8 mar Page 11 of