Use the following income statement and balance sheet informairon to put together a statement of cash flows.
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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).) Sales Cost of goods sold Gross profit Gen'l & admin expense Selling & mkt expense Depreciation Operating income Interest Income before taxes Income taxes (27%) 2017 $1,239,000 $687,000 $552,000 $156,000 $135,000 $24,000 $237,000 $141,000 $96,000 $25,920 $70,080 $25,000 ly Net income Dividends paid 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 2017 $23,000 $124,000 $200,000 $347,000 $700,000 $313,000 $387,000 $734,000 2016 $13,920 $111,000 $218,000 $342,920 $475,000 $289,000 $186,000 $528,920 $118,000 $29,000 $147,000 $104,000 $ 29,000 $133,000 2017 2016 $23,000 $124,000 $200,000 $347,000 $700,000 $313,000 $387,000 $734,000 $13,920 $111,000 $218,000 $342,920 $475,000 $289,000 $186,000 $528,920 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 $118,000 $29,000 $147,000 $246,000 $393,000 $4,500 $217,500 $119,000 $341,000 $734,000 $104,000 $29,000 $133,000 $151,000 $284,000 $4,000 $167,000 $73,920 $244,920 $528,920 Statement of Cash Flows 2017 Operating Activities 70080 Net Income/LOSS Depreciation 24000 Decrease in Accounts Receivable (13000) Statement of Cash Flows 2017 Operating Activities Net Income/Loss 70080 $ Depreciation 24000 Decrease in Accounts Receivable v (13000) Decrease in Inventories 18000 Increase in Accounts Payable 14000 Cash from Operations v 113080 ly Investing Activities V Purchase of Fixed Assets (225000) Cash from Investment (225000) Financing Activities 500 Increase in Accounts Payable 95000 Issuance of Long-term debt Dividends Paid Cash from Financing PRINTER VERSTON BA Statement of Cash Flows 2017 Operating Activities Net Income/Loss 70080 Depreciation V 24000 Decrease in Accounts Receivable (13000) Decrease in Inventories v 18000 Increase in Accounts Payable 14000 Cash from Operations 113080 dy Investing Activities (225000) (225000) Increase in Inventories Decrease in Accounts Receivable Depreciation Issuance of Long-term debt Increase in Accounts Receivable Decrease in Inventories Net Income/Loss Issuance of Common Stock Increase in Accounts Payable Decrease in Accounts Payable Purchase of Fixed Assets Sale of Fixed Assets Dividends Paid 500 95000 Cash from Financing Book Air
