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The comparative balance sheets of Tait Corp. are presented below: 12-31-17 $ 30,000 69,000 64,000 2.000 $ 165,000 $ 60,000 575,000 (310,000) $ 325,000

The comparative balance sheets of Tait Corp. are presented below: 12-31-17 12-31-16 Cash 30,000 40,000 Accounts Receivable 69,000 80,000 Inventory 64.000 50,000 Prepaid Rent 2.000 18,000 Total Current Assets 165,000 188,000 60,000 150,000 Plant and Equipment 575,000 500,000 Accumulated Depreciation 310.000 250,000 Total Long-Term Assets 325,000 400,000 Total Assets 490.000 588.000 Accounts Payable 65,000 $60,000 Other Accrued Liabilities 50,000 88,000 Total Current Liabilities 115,000 48,000 Long-Term Bank Loan Payable 150,000 75,000 190,000 Total Liabilities 298,000 Common Stock 100,000 100,000 Retained Earnings 200,000 190,000 300,000 290,000 Total Stockholders Equity Total Liabilities and Stockholders Equity S400.0002 588.000 Additional Information for 2017 Net Income during the year was $15,000 Dividends of $5,000 were declared and paid during the year. Plant assets that originally cost $50,000 and had a book value of$30,000 were sold during the year for S25,000 in cash. Also, some new plant assets were purchased during the year for S125,000 in cash. Land was sold for $115,000 during the year (No new Land was purchased during the year.) A portion of the bank loan was repaid during the year. Required: Prepare a statement of cash flows for Tait Corp. for the year-ended December 2017 using the Indirect Method as illustrated in class. 

The comparative balance sheets of Tait Corp. are presented below: 12-31-17 $ 30,000 69,000 64,000 2.000 $ 165,000 $ 60,000 575,000 (310,000) $ 325,000 $ 490.000 12-31-16 $ 40,000 80,000 50,000 18.000 $ 188,000 $ 150,000 500,000 Cash Accounts Receivable Inventory Prepaid Rent Total Current Assets Land Plant and Equipment Accumulated Depreciation Total Long-Term Assets Total Assets (250,000) $ 400,000 $ 588.000 $ 65,000 50,000 S115,000 $ 75,000 $ 190,000 $ 60,000 88,000 $ 148.000 $ 150,000 $ 298,000 Accounts Payable Other Accrued Liabilities Total Current Liabilities Long-Term Bank Loan Payable Total Liabilities $ 100,000 200.000 $ 300,000 Total Liabilities and Stockholders' Equity $490.000 $ 100,000 190.000 $ 290,000 $ 588.000 Common Stock Retained Earnings Total Stockholders' Equity Additional Information for 2017: Net Income during the year was $15,000. Dividends of $5,000 were declared and paid during the year. Plant assets that originally cost $50,000 and had a book value of $30,000 were sold during the year for $25,000 in cash. Also, some new plant assets were purchased during the year for $125,000 in cash. Land was sold for $115,000 during the year. (No new Land was purchased during the year.) A portion of the bank loan was repaid during the year. Required: Prepare a statement of cash flows for Tait Corp. for the year-ended December 31, 2017 using the Indirect Method as illustrated in class.

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