te A Accounting (ACCT 3103 an Buffalo Inc. had the following balance sheet at December 31, 2016. BUFFALO INC. DECEMBER 31, 2016 26,550 Notes payable (long-term) 37,350 Common stock 81,000 Retained earnings 5,350 105,350 Plant assets (net) $215,600 1. Buffalo Inc. sold part of its investment ts investments as available-for-sale. able in the amount of $20,229 were retired before maturity by paying $20,229 cash. 3. Long-term notes pay 4. An additional $24,229 in common stock was issued at par 5. Dividends of $12,429 were declared and paid to stockholders. 6. Net income for 2017 was $37,350 after allowing for depreciation of $15,229 7. Land was purchased through the issuance of $40,350 in bonds. s. At December 31, 2017, Cash was $42,350, Accounts Receivable was s46,950, and Accounts Payable remained at $35.3s0. (a) Your answer is correct. is o.g. (15, 000)-) Prepare a statement of cash nows for 2017. (Show amounts that decrease cash flow with either a . sign e0--sooo or INC MacBook Air