thod) LO5,6 Problem 16-11A Preparing the statement of cash flows (indirect me CHECK FIGURE: Net cash outflow from investing activities $8,000 Sunny Technologies Inc. began operations on January 1, 2016. Its post-closing 31, 2016, and 2017, is shown below along with some other information. Sunny Technologies Inc. Income Statement For Year Ended December 31, 2017 Sunny Technologies Inc. Post-Closing Trial Balance December 31 2017 62,400 $76,800 2016 Revenues: Account Sales 627,200 483,200 144,000 41,600 30,400 27,200 35,200 230.400 190,400 Cost of goods sold... Receivables. Merchandise inventory Property, plant, and equipment Accumulated depreciatio Accounts payab0 Gross Profit.. Expenses and other: 64,000 52,800 49,600 62,400 11,200 Depreciation expense 25,600 6,400 Total operating expenses. Operating Profit (Loss) 180.800Accrued liabilities... Notes payabl.47.600 40,000 Common shares Retained earnings.. 89,600 163,.200 49,600 20,800 (57,600) 8.000 Loss on sales of plant assets Profit (Loss) Other information regarding Sunny and its activities during 2017: 1. Assume all accounts have normal balances. 2. Cash dividends were declared and paid during the year 3. Plant assets were sold during the year. 1040 CHAPT ets worth $99,200 were purchased during the year by paying cash of ER 16 Reporting and Analyzing Cash Flows 99 4, Plant assets ong-term note payable for the uilred Using the informatic du e information provided, prep ing the year by paying cash of $32,000 and issuing gedd) for the ear ended December Analysls Component: are a statement of cash flows (applging the indirect a. The Cash account balance for Sunng Technologies Inc. dec bal necessarily an unfavourable situationos Inc. decreased during 2017, Is this h, Explain the causes of change in Sunny's cash situation during 2017. n 16-12A Preparing the statement of cash flows (direct method) LO FIGURE: Net cash outflow from operating activities = $22,400 reased during 2017. Is this or why not. efer to the information in Problem 16-11A. Prepare a statement o of cash flows for 2017 ethod to report cash inflows and outflows from operating activities. Other information: a. All accounts payable balances result from merchandise purchases. b. All sales are credit sales. c. All credits to accounts receivable are receipts from customers. d. All debits to accounts payable result from payments for merchandise. e. All debits and credits to accrued liabilities result from other expenses