SAGE INC. BALANCE SHEETS Dec. 31, 2017 Jan. 1, 2017 Inc./Dec Assets Cash Accounts receivable Equipment Less: Accumulated Depreciation-Equipment $46,480 94,200 42,200 20,200 $162,680 $ 14,480 89,720 23,720 11,000 $116,920 $32,000 Inc. 4,480 Inc. 18,480 Inc. 9,200 Inc. Total Accounts payable Common stock Retained earnings $23,200 101,480 38,000 $162,680 $16,720 81,720 18,480 $116,920 6,480 Inc. 19,760 Inc. 19,520 Inc. Total Net income of $47,200 was reported, and dividends of $27,680 were paid in 2017. New equipment was purchased and none was sold Prepare a statement of cash flows for the year 2017. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).) SAGE INC. Statement of Cash Flows For the Year Ended December 31, 2017