Sage Hill Inc had the following balance sheet at December 31, 2016. SAGE HILL INC. BALANCE SHEET DECEMBER 31, 2016 Cash $9.300 Accounts payable Accounts receivable 12.300 Bonds payable Investments 13,500 Common stock Plant assets (net) 36,900 Retained earnings Land 16,500 $88,500 $15,200 9,500 36,300 27.500 $88.500 During 2017, the following occurred. 1. Net income was $26,600. 2. Depreciation expense was $8,400. 3. Sage Hill liquidated its investment portfolio (comprised of available-for-sale investments), realizing a $4,200 loss. 4. Sage Hill issued $20.500 of common stock at par. 5. Dividends of $7,300 were declared and paid to stockholders. 6. Accounts receivable and accounts payable at December 31, 2017 were $15,500 and $14,000, respectively. 7. Sage Hill obtained $9,500in plant assets in exchange for issuing bonds. 8. Sage Hill purchased additional plant assets for $17,000. 9. Sage Hill purchased land for $20,100. 10. Cash at December 31, 2017 was $29,500. Prepare a statement of cash flows for the year 2017 for Sage Hill. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis eg. (15,000).) SAGE HILL INC. Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Loss on Sale of Investments Decrease in Accounts Payable 1 Increase in Accounts Receivable Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Investments Purchase of Plant Assets Purchase of Land Net Cash Used by Investing Activities Cash Flows from Financing Activities Issuance of Common Stock Payment of Cash Dividends Net Cash Provided by Financing Activities Net Increase in Cash Cash at Beginning of Year Cash at End of Year Noncash Investing and Financing Activities Plant assets purchased through issuance of $ of bonds Prepare the unclassified balance sheet as it would appear at December 31, 2017. (List Assets in order of liquidity.) SAGE HILL INC. Balance Sheet December 31, 2017 Assets Cash Accounts Receivable Plant Assets Land Liabilities and Stockholders' Equity Accounts Payable Bonds Payable Common Stock Retained Earnings Compute Sage Hill's free cash flow and current cash debt coverage for 2017. (Round current cash debt coverage to 2 decimal places, eg. 0.56. Show amounts that decrease cash flow with either a- sign e.g.-15,000 or in parenthesis e.g. (15,000).) Free cash flow Current cash debt coverage