Student Name: Sapphire, Inc Sapphire, Inc. Balance Sheet Statement of Cash Flows Indirect Method 2017 2016 OPERAT ACTIVITIES Assets 109,000 2,800 9.500 600 20,000 200 16,000 130,000 32,700 85,100 3,300 21,000 29,900 94,800 2,700 57,000 37.000 27,800 27,600 100,000 Prepaid Exp 116,000 2.200 -6,000 3.600 5.200 3,600 53,000 34,300 1,600 3,600 5,200 18,900 62,000 36,500 7.600 Accounts payable Salaries payable nterest payable axes payable Net cash fw from operations INVESTMENT ACTIVITIES Bonds payable 15,000 tockholders 20,000 174.700 96,000 176,700 ommon 76.000 et cash ws used for investing activities Retained e FINANCIAL ACTIVITIES et cash ws used for financing activiies Net increase in cash Cash at the beginning of the year ash at the end of the ear NOTES 1 Net Income 3 Sapphire sold equipment for $9,000 which had originally cost 183,300 $13,200 and had a balance of accumulated depreciation of $5,000 4 Investments were purchased with cash 5 Sapphire issued common stock for cash 6 Sapphire DID NOT issue any new long term notes or bonds