Question 15 of 20 -/1 Analysts following the Crane Golf Company were given the following balance sheet information for the years ended June 30, 2017, and June 30, 2016: 2016 $16,566 318.768 352,740 Assets Cash and marketable securities Accounts receivable Inventory Other current assets Total current assets Plant and equipment Less: Accumulated depreciation Net plant and equipment Goodwill and other assets Total assets Liabilities and Equity Accounts payable and accruals Notes payable Accrued income taxes Total current liabilities Long-term debt Total liabilities Preferred stock Common stock (10,000 shares) 2017 $33.411 277.005 407019 41.251 $758,686 1,971,719 (459,044) $1,512,675 382,145 $2.653,506 2017 $378,236 14,487 21.125 $413,848 636,381 $1.050.229 29.912 $717,986 1,609,898 (206,678) $1,403,220 412,565 $2,533.771 2016 $332,004 7,862 16,815 $356,681 793,515 $1,150, 196 10,000 10.000 Question 15 of 20 -/13 $1,050,229 $1,150,196 Total liabilities Preferred stock Common stock (10,000 shares) Additional paid-in capital Retained earnings Less: Treasury stock Total common equity Total liabilities and equity 10,000 975,465 631,146 (13,334) $1,603,277 10,000 975,465 398,110 $1,383,575 $2,533.771 $2,653,506 In addition, it was reported that the company had a net income of $3,177,848 and that depreciation expenses were equal to $252,366 during 2017. Assume amortization expense was $0 in 2017. Construct a 2017 cash flow statement for this firm. (If an amount reduces the cash flow then enter with negative sign preceding the number eg.-45 or parentheses es (45) Crane Golf Company Statement of Cash Flows Year ended June 30, 2017 Cash Flows from Operating Activities Net Income $ Additions (sources of cash) Depreciation Decrease in Accounts Receivable 10 BRA education.wiley.com Question 15 of 20 Crane Golf Company Statement of Cash Flows Year ended June 30, 2017 4 Cash Flows from Operating Activities . Net Income Additions (sources of cash) Depreciation Decrease in Accounts Receivable Increase in Accounts Payable Increase in Accrued Income Taxes Subtractions (uses of cash) Increase in Inventories + increase in Other Current Assets Net Cash Provided by Operating Activities . Cash Flows from Investing Activities 10 x 10 MacBook Air Cash Flows from Investing Activities 4 $ Decrease in Goodwill and Other Assets Net Cash used in Investing Activities 4 $ Cash Flows from Financing Activities Increase in Notes Payable 4 $ Decrease in Long-term Debt Purchase of Treasury Stock 4 : Net Cash used in Financing Activities $ $ $ Net Increase in Cash and Marketable Securities Cash and Marketable Securities at Beginning of Year Cash and Marketable Securities at End of Year $ 10 (CH
