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You will need to complete the 2017 Cash Flow Statement. In addition, you will also prepare the Common Sized Financial Statements for the 2 years

You will need to complete the 2017 Cash Flow Statement. In addition, you will also prepare the Common Sized Financial Statements for the 2 years shown.

Bob Smith, Inc.

Common Sized Financial Statement

Assets
2016 2017 Change from 2016 to 2017
Net Sales $3,155,848
Amount Percent Amount Percent Amount Percent
Cash $16,566 0.65% $33,411 1.2% $16,845 0.01%
Accounts Receivable $318,768 12.5% $260,205 9.8% $58,563 0.11%
Inventory $352,740 13.9% $423,819 15.9% $71,079 0.13%
Other Current Assets $29,912 1.1% $41,251 1.5% ($11,339) 0.01%
Plant, Property & Equipment $1,403,220 55.3% $1,512,675 57% $109,455
Goodwill & Other Assets $412,565 16.2% $382,145 14.4% $30,420 0.13%
Total Assets $2,533,771 $2,653,506 ($119,735)
Liabilities & Equity
Accounts Payable $332,004 13% $378,236 14.2% $46,232 1.2%
Wages Payable $7,862 0.31% $14,487 0.54% $6,625 0.53%
Accrued Income Taxes $16,815 0.66% $21,125 0.79% $4,310 0.78%
Total Current Liabilities $356,681 14% $413,848 15.5% $57,167 13.3%
Long-term Debt Bank Notes $793,515 31.3% $679,981 25.6% $113,534 17.5%
Total Liabilities $1,150,196 45.3% $1,093,829 41.2% $56,367 22.5%
Total Common Equity $1,383,575 54.6% $1,559,677 58.7% $176,102 26.6%
Total Liabilities & Equity $2,533,771 $2,653,506 $119,735

Bob Smith, Inc. Statement of Cash Flows for the Year End December 31, 2017
Period Ending: Dec-17
Cash flows from operating activities
Net Income $3,155,848
Depreciation $212,366
Accounts Receivable $58,563
Inventory ($71,079)
Other Current Assets ($11,339)
Accounts Payable $46,232
Wages Payable $6,625
Taxes ($225,700)
Accrued Income Taxes $4,310
Net cash provided by operation activities
Cash flow from investing activities:
Goodwill and other assets $30,420
PP&E ($109,445)
Depreciation ($212,366)
Net cash from Investments
Cash flows from financing activities
Long-term debt bank notes (113,534)
Dividends paid $2,966,412
Tax
Net cash used in financing activities
Net increase (decrease) in cash & cash $16,845
Cash start of period $33,411
Cash end of period $16,566

Quick Ratio 0.44
Current Ratio 1.83

Please review my calculations and help me figure out what I did wrong

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