Sarasota Inc. had the following balance sheet at December 31, 2016.

SARASOTA INC. BALANCE SHEET DECEMBER 31, 2016
Cash		$21,610		Accounts payable		$31,610
Accounts receivable		22,810		Notes payable (long-term)		42,610
Investments		33,610		Common stock		101,610
Plant assets (net)		81,000		Retained earnings		24,810
Land		41,610				$200,640
		$200,640

During 2017, the following occurred.

1.		Sarasota Inc. sold part of its investment portfolio for $15,124. This transaction resulted in a gain of $3,524 for the firm. The company classifies its investments as available-for-sale.
2.		A tract of land was purchased for $14,610 cash.
3.		Long-term notes payable in the amount of $16,124 were retired before maturity by paying $16,124 cash.
4.		An additional $20,124 in common stock was issued at par.
5.		Dividends of $8,324 were declared and paid to stockholders.
6.		Net income for 2017 was $33,610 after allowing for depreciation of $11,124.
7.		Land was purchased through the issuance of $36,610 in bonds.
8.		At December 31, 2017, Cash was $38,610, Accounts Receivable was $43,210, and Accounts Payable remained at $31,610.

1. Prepare a statement of cash flows for 2017. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) SARASOTA INC. Statement of Cash Flows

2. Prepare an unclassified balance sheet as it would appear at December 31, 2017. (List Assets in order of liquidity.) SARASOTA INC. Balance Sheet

3. Compute two cash flow ratios. (Round ratios to 2 decimal places, e.g. 0.62.)

Current cash debt coverage ratio			:1
Cash debt coverage ratio			:1