Statement of Cash FlowsIndirect Method The following balances are available for Chrisman Company:

December 31 2017 2016

Cash $13,200 $16,500

Accounts receivable 33,000 24,800

Inventory 26,200 43,800

Prepaid rent 14,900 9,900

Land 123,800 123,800

Plant and equipment 660,000 495,000

Accumulated depreciation (107,300) (49,500)

Totals $763,800 $664,300

Accounts payable $19,800 $16,500

Income taxes payable 5,000 8,300

Short-term notes payable 57,800 41,300

Bonds payable 124,000 165,000

Common stock 330,000 247,500

Retained earnings 227,200 185,700

Totals $763,800 $664,300

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 $57,800. Net income was reported at $41,500.

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

Net income $fill in the blank

2 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense fill in the blank

4 Increase in accounts receivable fill in the blank

6 Decrease in inventory fill in the blank

8 Increase in prepaid rent fill in the blank

10 Increase in accounts payable fill in the blank

12 Decrease in income taxes payable fill in the blank

14 Net cash provided by operating activities $fill in the blank

16 Cash Flows from Investing Activities Acquisition of plant and equipment $fill in the blank d2a400fd2fff028

18 Cash Flows from Financing Activities Retirement of bonds payable $fill in the blank

20 Issuance of short-term notes payable fill in the blank

22 Issuance of common stock fill in the blank

24 Net cash provided by financing activities $fill in the blank

26 Net decrease in cash $fill in the blank

28 Cash balance, December 31, 2016 fill in the blank

29 Cash balance, December 31, 2017 $fill in the blank