Statement of Cash FlowsIndirect Method

The following balances are available for Chrisman Company:

	December 31
	2017		2016
Cash	$11,300		$14,100
Accounts receivable	28,300		21,200
Inventory	22,400		37,400
Prepaid rent	12,700		8,500
Land	105,900		105,900
Plant and equipment	565,000		423,800
Accumulated depreciation	(91,800)		(42,400)
Totals	$653,800		$568,500
Accounts payable	$17,000		$14,100
Income taxes payable	4,200		7,100
Short-term notes payable	49,400		35,300
Bonds payable	106,000		141,000
Common stock	282,500		211,900
Retained earnings	194,700		159,100
Totals	$653,800		$568,500

Bonds were retired during 2017 at face value, plant and equipment were acquired for cash, and common stock was issued for cash. Depreciation expense for the year was $49,400. Net income was reported at $35,600. Required: 1. Prepare a statement of cash flows for 2017 using the Indirect method in the Operating Activities section. Use the minus sign to Indicate cash payments, cash outflows, or decreases in cash. Chrisman Company Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash provided by operating activities: Cash Flows from Investing Activities Cash Flows from Finandng Activities Cash balance, December 31, 2016 Cash balance, December 31, 2017 2. Based on its statement of cash flows, Chrisman In addition to operating activities, Chrisman generated cash