SPLISH INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 12/31/17 12/31/16 Cash $6,000 $7,000 Accounts receivable 61,800 50,700 Short-term debt investments (available-for-sale) 35,300 17,900 Inventory 39,800 59,400 Prepaid rent 4,900 4,000 Equipment 153,100 130,500 Accumulated depreciation-equipment (35,000 ) (24,700 ) Copyrights 45,900 50,500 Total assets $311,800 $295,300 Accounts payable $46,000 $39,700 Income taxes payable 4,000 5,900 Salaries and wages payable 8,100 4, 100 Short-term loans payable 8,100 10,100 Long-term loans payable 59,900 68,600 Common stock, $10 par 100,000 100,000 Contributed capital, common stock 30,000 30,000 Retained earnings 55,700 36,900 Total liabilities & stockholders' equity $311,800 $295,300 License Agreement | Privacy Policy | @ 2000-2019 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wile Ps Ailotal liabilities & stockholders' equity $311,800 $295,300 SPLISH INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2017 Sales revenue $333,125 Cost of goods sold 173,600 Gross profit 159,525 Operating expenses 118,900 Operating income 40,625 Interest expense $11,500 Gain on sale of equipment 2,000 9,500 Income before tax 31,125 Income tax expense 6,225 Net income $24,900 Additional information: 1. Dividends in the amount of $6, 100 were declared and paid during 2017. N Depreciation expense and amortization expense are included in operating expenses. . No unrealized gains or losses have occurred on the investments during the year. . Equipment that had a cost of $19,800 and was 70% depreciated was sold during 2017. Prepare a statement of cash flows using the Indirect method. ( Show amounts that decrease cash flow with ei Privacy Policy 1 @ 2000-2019 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & So Heense Agreement Ps Ai