Take Home Problem #1 - Acctg 202 Due at the Beginning of Class on Wednesday, 10/06 PART A Spike Corp balance sheet is below with the management narrative: Comparative Balance Sheet - Spike Assets 12/31/2015 Cash $ 57 S Accounts Receivable $ 35 $ Inventory S 53 $ PP&E $ 500 $ Accum Depr $ (340) S Total Assets $ 305 $ 12/31/2016 40 174 2015 33 204 587 SY (360) 320 Net Income for the period was $32. The company sold equipment for $13 that was originally purchased for $28. The sold asset had accumulated depreciation of $10. The company paid a cash dividend during the year and did not issue any bonds payable or repurchase any of its own common stock. 26 44 Liabilities & Equity Accounts Payable Accrued Liabilities Income Tax Payable Bonds Payable Common Stock Retained Earnings Total Liabilities & Equity $ $ $ $ S $ 30 $ 15 $ 36 S 162 $ 50 $ 12 S 305 $ 30 ist 4042 123 374 62120 3927 320 Required: * Construct, in good form, the company's Statement of Cash Flows for the period, using the indirect method. (15pts) PART B ON REVERSE