Your answer is partially correct. Try again. The comparative balance sheets of Sage Inc, at the beginning and the end of the year 2017 are as follows SAGE INC. BALANCE SHEETS Dec. 31, 2017 Jan. 1, 2017 Inc./Dec. Assets Cash Accounts receivable Equipment Less: Accumulated Depreciation-Equipment 46,480 94,200 42,200 20,200 $162,680 $14,480 89,720 23,720 11,000 $116,920 $32,000 Inc. 4,480 Inc. 18,480 Inc. 9,200 Inc. Total Accounts payable Common stock Retained earnings $ 23,200 101,480 38,000 $162,680 16,720 81,720 18,480 $116,920 6,480 Inc. 19,760 Inc. 19,520 Inc Total Net income of $47,200 was reported, and dividends of $27,680 were paid in 2017. New equipment was purchased and none was sold. Prepare a statement of cash flows for the year 2017. (Show amounts that decrease cash flow with either a sign e.g. -15,000 or in parenthesis e.g. (15,000).) SAGE INC. Statement of Cash Flows For the Year Ended December 31, 201 ash Flows from Operating Activitie Net Income Adjustments to reconcile net income to et Cash Provided b ng Activities ation ncrease in Accounts Receivabl ncrease in Accounts Pavab et Cash Provided by Operating Activities ash Flows from Investing Activiti urchase of Equipmen ash Flows from Financing Activities ssuance of Common ayment of Cash Dividends et Cash Used by Financing Activitie et Increase in Cash ash at Beginning of Vea ash at End of Year