suppose selected financial data of

for number 6 the number is 25,000

Exercise 195 The comparative balance sheets for Beneteau Company appear below: 2016 BENETEAU CORPORATION Comparative Balance Sheet 2017 Assets Cash $37,000 Accounts receivable (net) 80,000 Prepaid insurance 22,000 Land 18,000 Equipment 70,000 Accumulated depreciation (20,000) Total assets $207,000 Liabilities and Stockholder's Equity Accounts payable $12,000 Bonds payable 27,000 Common stock 140,000 Retained earnings 28,000 Total liabilities and stockholder's equity $207,000 $31,000 60,000 17,000 40,000 60,000 (13,000) $195,000 $6,000 19,000 115,000 55,000 $195,000 Additional information: 1. Net loss for 2017 is $12,000. Net sales for 2017 are $250,000. 2. Cash dividends of $15,000 were declared and paid in 2017. 3. Land was sold for cash at a loss of $2,000. This was the only land transaction during the year. 4. Equipment with a cost of $15,000 and accumulated depreciation of $10,000 was sold for $5,000 cash. 5. $12,000 of bonds were retired during the year at carrying (book) value. 6. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $25 Prepare a statement of cash flows for the year ended December 31, 2017, using the indirect method. (Show am -15,000 or in parenthesis e.g. (15,000). If answer is zero please enter O, do not leave any fields blan BENETEAU CORPORATION Statement of Cash Flows For the Year Ended December 31, 2017 Adjustments to reconcile net income to CALCULATOR S CES Compute the following cash based ratios. (Round answers to 2 decimal places, e.g. 15.25. Enter negative amounts us e.g. -45 or parentheses e.g. (45).) Current cash debt coverage times Cash debt coverage times