Question 7 Use the following income statement and balance sheet information to put together a statement of cash flows. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 2017 Sales $1,239,000 Cost of goods sold $686,000 Gross profit $553,000 Gen'l & admin expense $154,000 Selling & mkt expense $134,000 $ Depreciation $24,000 Operating income $241,000 Interest $142,000 Income before taxes $99,000 Income taxes (27%) $26,730 Net income $72,270 Dividends paid $25,000 2017 $23,000 $124,000 $202,000 $349,000 $700,000 $313,000 $387,000 $736,000 2016 $14,130 $112,000 $218,000 $344,130 $475,000 $289,000 $186,000 $530,130 Assets Cash Accounts receivable Inventory Total current assets Gross plant and equipment Less: accum. depreciation Net plant and equipment Total assets Liabilities Accounts payable Notes payable Total current liabilities Long-term debt Total liabilities Common stock ($0.01 par) Paid-in capital Retained earnings Total stockholders' equity Total liabilities and equity $117,000 $26,000 $143,000 $246,000 $389,000 $4,500 $226,500 $116,000 $347,000 $736,000 $103,000 $26.000 $129,000 $152,000 $281,000 $4,000 $176,400 $68,730 $249,130 $530,130 Statement of Cash Flows 2017 > > > > >