Statement of Cash FlowsIndirect Method

The following balances are available for Chrisman Company:

	December 31
	2017		2016
Cash	$9,000		$11,300
Accounts receivable	22,500		16,900
Inventory	17,900		29,900
Prepaid rent	10,100		6,800
Land	84,400		84,400
Plant and equipment	450,000		337,500
Accumulated depreciation	(73,100)		(33,800)
Totals	$520,800		$453,000
Accounts payable	$13,500		$11,300
Income taxes payable	3,400		5,600
Short-term notes payable	39,400		28,100
Bonds payable	84,000		113,000
Common stock	225,000		168,800
Retained earnings	155,500		126,200
Totals	$520,800		$453,000

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 $39,300. Net income was reported at $29,300.

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	$
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	$
Issuance of short-term notes payable
Issuance of common stock
Net cash provided by financing activities	$
Net decrease in cash	$
Cash balance, December 31, 2016
Cash balance, December 31, 2017	$