Sweet Inc., had the following condensed balance sheet at the end of operations for 2016.

SWEET INC. BALANCE SHEET DECEMBER 31, 2016 Cash $8,500 Current liabilities $15,100 Current assets other than cash 28,900 Long-term notes payable 25,600 Equity invesments 19,800 Bonds payable 25,000 Plant assets (net) 67,600 Common stock 75,000 Land 39,700 Retained earnings 23,800 $164,500 $164,500

During 2017, the following occurred.

1. A tract of land was purchased for $9,000. 2. Bonds payable in the amount of $15,000 were redeemed at par. 3. An additional $10,000 in common stock was issued at par. 4. Dividends totaling $9,500 were paid to stockholders. 5. Net income was $30,200 after allowing depreciation of $13,400. 6. Land was purchased through the issuance of $22,400 in bonds. 7. Sweet Inc. sold part of its investment portfolio for $13,000. This transaction resulted in a gain of $2,000 for the company. No unrealized gains or losses were recorded on these investments in 2017. 8. Both current assets (other than cash) and current liabilities remained at the same amount.

Prepare a statement of cash flows for 2017 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

SWEET INC. Statement of Cash Flows December 31, 2017 For the Year Ended December 31, 2017 For the Quarter Ended December 31, 2017 Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Noncash Investing and Financing Activities Issuance of Bonds for Land Net Income Issuance of Common Stock Payment of Dividends Gain on Sale of Investments Purchase of Land Redemption of Bonds Payable Sale of Investments Depreciation Expense Loss on Sale of Investments $ Adjustments to reconcile net income to Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Noncash Investing and Financing Activities Issuance of Common Stock Issuance of Bonds for Land Purchase of Land Sale of Investments Net Income Redemption of Bonds Payable Loss on Sale of Investments Depreciation Expense Payment of Dividends Gain on Sale of Investments $ Depreciation Expense Payment of Dividends Gain on Sale of Investments Redemption of Bonds Payable Purchase of Land Net Income Sale of Investments Issuance of Common Stock Loss on Sale of Investments Issuance of Bonds for Land Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Noncash Investing and Financing Activities Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Noncash Investing and Financing Activities Payment of Dividends Redemption of Bonds Payable Depreciation Expense Sale of Investments Net Income Loss on Sale of Investments Gain on Sale of Investments Purchase of Land Issuance of Common Stock Issuance of Bonds for Land Issuance of Common Stock Issuance of Bonds for Land Net Income Depreciation Expense Purchase of Land Sale of Investments Loss on Sale of Investments Gain on Sale of Investments Redemption of Bonds Payable Payment of Dividends Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Noncash Investing and Financing Activities Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Noncash Investing and Financing Activities Redemption of Bonds Payable Net Income Sale of Investments Issuance of Common Stock Depreciation Expense Purchase of Land Loss on Sale of Investments Payment of Dividends Gain on Sale of Investments Issuance of Bonds for Land Issuance of Common Stock Loss on Sale of Investments Issuance of Bonds for Land Net Income Depreciation Expense Redemption of Bonds Payable Gain on Sale of Investments Purchase of Land Sale of Investments Payment of Dividends Redemption of Bonds Payable Issuance of Bonds for Land Gain on Sale of Investments Payment of Dividends Net Income Depreciation Expense Loss on Sale of Investments Sale of Investments Issuance of Common Stock Purchase of Land Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Noncash Investing and Financing Activities Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Noncash Investing and Financing Activities Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Noncash Investing and Financing Activities Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Noncash Investing and Financing Activities $ Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Noncash Investing and Financing Activities Sale of Investments Payment of Dividends Redemption of Bonds Payable Issuance of Common Stock Issuance of Bonds for Land Depreciation Expense Net Income Loss on Sale of Investments Gain on Sale of Investments Purchase of Land $

Prepare the condensed balance sheet for Sweet Inc. as it would appear at December 31, 2017. (List current assets in the order of Liquidity.)

SWEET INC. Balance Sheet December 31, 2017 For the Year Ended December 31, 2017 For the Quarter Ended December 31, 2017 Assets Current Assets Current Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Net Income / (Loss) Property, Plant and Equipment Revenues Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Stockholders' Equity Bonds Payable Cash Common Stock Current Assets Other than Cash Investments Land Long-term Notes Payable Plant Assets Retained Earnings $ Bonds Payable Cash Common Stock Current Assets Other than Cash Investments Land Long-term Notes Payable Plant Assets Retained Earnings Bonds Payable Cash Common Stock Current Assets Other than Cash Current Liabilities Investments Land Long-term Notes Payable Property, Plant and Equipment Retained Earnings Current Assets Current Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Net Income / (Loss) Property, Plant and Equipment Revenues Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Stockholders' Equity $ Current Assets Current Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Net Income / (Loss) Property, Plant and Equipment Revenues Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Stockholders' Equity Bonds Payable Cash Common Stock Current Assets Other than Cash Investments Land Long-term Notes Payable Plant Assets Retained Earnings $ Bonds Payable Cash Common Stock Current Assets Other than Cash Investments Land Long-term Notes Payable Plant Assets Retained Earnings Current Assets Current Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Net Income / (Loss) Property, Plant and Equipment Revenues Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Stockholders' Equity Current Assets Current Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Net Income / (Loss) Property, Plant and Equipment Revenues Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Stockholders' Equity $ Liabilities and Stockholders' Equity Current Assets Current Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Net Income / (Loss) Property, Plant and Equipment Revenues Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Stockholders' Equity $ Current Assets Current Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Net Income / (Loss) Property, Plant and Equipment Revenues Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Stockholders' Equity Bonds Payable Cash Common Stock Current Assets Other than Cash Investments Land Long-term Notes Payable Plant Assets Retained Earnings $ Bonds Payable Cash Common Stock Current Assets Other than Cash Investments Land Long-term Notes Payable Plant Assets Retained Earnings Current Assets Current Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Net Income / (Loss) Property, Plant and Equipment Revenues Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Stockholders' Equity Current Assets Current Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Net Income / (Loss) Property, Plant and Equipment Revenues Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Stockholders' Equity Bonds Payable Cash Common Stock Current Assets Other than Cash Investments Land Long-term Notes Payable Plant Assets Retained Earnings $ Bonds Payable Cash Common Stock Current Assets Other than Cash Investments Land Long-term Notes Payable Plant Assets Retained Earnings Current Assets Current Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Net Income / (Loss) Property, Plant and Equipment Revenues Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Stockholders' Equity Current Assets Current Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Net Income / (Loss) Property, Plant and Equipment Revenues Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Stockholders' Equity $