1. The consolidated balance sheets for Seminole Industries follow. In, 2017, Seminole distributed $32,900 in dividends to common stockholders.

Compute the changes in the balance sheet variables and identify the changes as sources or uses. TOTAL FOR SOURCES MUST MATCH USES

Complete the Statement of Cash Flows on the back of the previous page.

	2017	2016	Sources	Uses
Cash	$14,000	$15,000
Marketable Securities	7,300	7,200
Receivables	33,000	42,000
Inventories	84,000	51,000
Total Current Assets	$138,300	$115,200
Gross Fixed Assets	464,000	450,000
Accumulated Depreciation	194,000	164,000
Net Fixed Assets	270,000	286,000
Total Assets	$408,300	$401,200
Accounts Payable	$57,000	$48,000
Notes Payable	13,000	15,000
Accruals	5,000	6,000
Total Current Liabilities	$75,000	$69,000
L-T Debt	150,000	160,000
Total Liabilities	$225,000	$229,000
Common Stock	$108,200	$108,200
Retained Earnings	75,100	64,000
Total Equity	$183,300	$172,200
Total Debt & Equity	$408,300	$401,200
Totals