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Sheridan Corporations balance sheet at the end of 2016 included the following items. Current assets (Cash $82,000) $236,600 Current liabilities $151,600 Land 32,700 Bonds payable

Sheridan Corporations balance sheet at the end of 2016 included the following items.

Current assets (Cash $82,000) $236,600 Current liabilities $151,600
Land 32,700 Bonds payable 101,600
Buildings 121,600 Common stock 182,700
Equipment 92,700 Retained earnings 46,700
Accum. depr.-buildings (31,600 ) Total $482,600
Accum. depr.-equipment (11,000 )
Patents 41,600
Total $482,600

The following information is available for 2017.

1. Net income was $59,140.
2. Equipment (cost $21,600 and accumulated depreciation $9,600) was sold for $11,600.
3. Depreciation expense was $5,600 on the building and $10,600 on equipment.
4. Patent amortization was $2,500.
5. Current assets other than cash increased by $29,000. Current liabilities increased by $14,600.
6. An addition to the building was completed at a cost of $28,600.
7. A long-term investment (Equity) in stock was purchased for $16,000.
8. Bonds payable of $52,700 were issued.
9. Cash dividends of $30,000 were declared and paid.
10.

Treasury stock was purchased at a cost of $11,000.

Prepare a statement of Cashflows for 2017.

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