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The comparative balance sheets of Coronado Inc. at the beginning and the end of the year 2017 are as follows CORONADO INC. BALANCE SHEETS Dec.
The comparative balance sheets of Coronado Inc. at the beginning and the end of the year 2017 are as follows CORONADO INC. BALANCE SHEETS Dec. 31, 2017 Jan. 1, 2017 Inc./Dec. Assets Cash Accounts receivable Equipment Less: Accumulated Depreciation-Equipment $48,850 95,910 43,910 21,910 $166,760 89,060 23,060 11,000 $117,970 $16,850 $32,000 Inc. 6,850 Inc. 20,850 Inc. 10,910 Inc. Total ckho Accounts payable Common stock Retained earnings $24,910 103,850 38,000 $166,760 $16,060 81,060 20,850 $117,970 8,850 Inc. 22,790 Inc. 17,150 Inc. Total Net income of $48,910 was reported, and dividends of $31,760 were paid in 2017. New equipment was purchased and none was sold Prepare a statement of cash flows for the year 2017. (Show amounts that decrease cash flow with either a -sign e.g.-15,000 or in parenthesis e.g. (15,000).)
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