Statement of Cash Flows-Indirect Method The following balances are available for Chrisman Company: December 31 2017 2016 Cash $7,600 $9,500 Accounts receivable 19,000 14,300 Inventory 15,100 25,200 Prepaid rent 8,600 5,700 Land 71,300 71,300 Plant and equipment 380,000 285,000 Accumulated depreciation (61,800) (28,500) Totals $439,800 $382,500 Accounts payable Income taxes payable Short-term notes payable Bonds payable Common stock Retained earnings Totals $11,400 2,900 33,300 71,000 190,000 131,200 $439,800 $9,500 4,800 23,800 95,000 142,500 106,900 $382,500 Cash Flows from Operating Activities Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense Increase in accounts receivable Decrease in inventory Increase in prepaid rent Increase in accounts payable Decrease in income taxes payable Net cash provided by operating activities Cash Flows from Investing Activities Acquisition of plant and equipment Cash Flows from Financing Activities Retirement of bonds payable bb1010) 0 0.0 $ Issuance of short-term notes payable Issuance of common stock Net cash provided by financing activities Net cash provided by financing activities Net decrease in cash 0001 Cash balance, December 31, 2016 Cash balance, December 31, 2017