sting and financing transactions during 2017. During the year, there were nos 0 Comparative balance sheet December 31, 2017 2016 Increase (Decrease) 0 Income statement Com cting Current assets Cash and cash equivalents Accounts receivable 17.000 $ 41.600 84.100 1,800 5,600 $ 45,000 87.300 1,400 11,400 (3.400) (3.200) 400 Inventories Prepaid expenses Property, plant, and equipment Land $ 438.000 28.700 3200 Neting Adjust 89.100 60,400 53.100 49,900 286.700 $ 249.600$ Equipment, net $ 37.100 Depot Supply Corp. Income Statement For the Year Ended December 31, 2017 Revenues Sales revenue Expensos: Cost of goods sold $ h ool Salary expense ..... 70.000 Depreciation expense ..... 4,500 Omer operating expense. 10,600 Interest expense .. 24,300 29 300 Income tax expenso Total expenses S Net income Total assets Current liabilities: Accounts payable Salary Dayable Other accruedas Long term abilities: Notes payable Shareholders' equity: Common shares 35,500 $ 2.000 22,300 33400 6,100 23,800 2100 4.100) (1.500) 301.200 73.000 109.000 36.000 106.800 23.600 88,100 65.800 206.700 Print Retained wings $4.500 12.800 200.000 Net cash Cash flow Purch Done ] Total abilities and shareholders' equity S or any Done I The 2017 comparative balance sheet and income statement of Depot Supply Corp. foliow Depot had no no cash investing and financing transactions during 2017. During the year, there were no sies of land or equipment, no ance of notes payable and repurchase of shares transactions mm Click the icon to view the companive balance sheet) Click the icon to view the income statement.) Requirements 1. Prepare the 2017 sement of cash flows formatting operating yung 2 How will what you w in this problem help you evaluseanument? indirect method Requirement 1. Prepare the 2017 starlement of cash flows formatting pering av by using the indirect method Starty completing the cash flows from operating activities. Then continue with completing the westing and financing subtracting numbers that are typically shown enclosed in parentheses in a lement of cash flows) sections Fraly dat e the increasinca (Use a minus signor parentheses for equirements 1. Prepare the 2017 statement of cash flows, formatting operating activities by using the indirect method. 2. How will what you leamed in this problem help you evaluate an investment? 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 Decrease in accounts recievable Decrease in inventories Increase in prepaid expenses Increase in accounts payable Decrease in salary payable Decrease in other accrued liabilities Not cash provided by operating activities Cash flows from investing activities: Purchase of land Purchase of equipment Net cash used for investing activities Cash flows from financing activities: Payment of dividends Payment of note payable Decrease in other accrued liabilities Net cash provided by operating activities Cash flows from investing activities: Purchase of land Purchase of equipment Net cash used for investing activities Cash flows from financing activities: Payment of dividends Payment of note payable Issuance of common shares Net cash used for financing activities Net increase in cash Cash balance, December 31, 2016 Cash balance, December 31, 2017 Requirement 2. How will what you learned in this problem help you evaluate an investment? O A Learn how operating activities, investing activities, and financing activities generate cash receipts and cash payments O B. Learn how companies prepare the statement of cash flows O C. Both A and B OD. None of the above Enter any number in the edit fields and then continue to the next