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ACH blem 16-9A Preparing the statement of cash flows (indirect method) L05,6 K FIGURE: Net cash inflows from financing activities = $900 (thousand) & Key Inc. began operations on January 1, 2016. Its post-closing trial balance at December 31, 2016 2017, is shown below along with some other information. Lock & ka Income SE Lock & Key Inc. Post-Closing Trial Balance (000s) 2017 (000s) For Year Ended Decem Account Revenues: Sales.. Cost of goods sold. 3,302 2,520 780 Gross Profit.... Expenses: December 31 2017 2016 $2,160 $1,260 2,100 1,440 2.040 2,280 3,720 3,960 1,440 1,380 1,440 1,080 240 360 1,680 1,800 3,084 2,040 2,136 2,280 Cash....... Receivables..... Merchandise inventory Property, plant, and equipment Accumulated depreciation .. Accounts payable Accrued liabilities.... Bonds payable Common shares Retained earnings......... 660 240 Other expenses. Depreciation expense. Total expenses... Loss.... 3,420 $ 120 CHAPTER 16 Reporting and Analyzing Cash Flows Other information regarding Lock & Key Inc. and its activities during 2017: 1. Assume all accounts have normal balances. 2. Cash dividends were declared and paid during the year. 3. Equipment was sold for cash equal to its book value. Pequired Using the information provided, prepare a statement of cash flows (applying the indirect ethod) for the year ended December 31, 2017. alysis Component: Assume that the investing activities section of the statement of cash flows showed et cash outflow of $14 thousand. What could this represent? Is a net cash outflow from investing ac- cies necessarily favourable or unfavourable? Explain. lem 16-10A Preparing the statement of cash flows (direct method) LO7 K FIGURE: Net cash outflow from operating activities = $60 (thousand) ont of cash flows for 2017 usin