The comparative balance sheet for Sand Products, Inc., as of December 31, 2016 and 2015, is shown below, followed by the condensed income statement and other financial data for 2016.

INSTRUCTIONS
Prepare a statement of cash flows for 2016.
a. Sold used equipment for $27,000 in cash that originally cost $32,000; accumulated depreciation was $8,000. The remainder of the change in Equipment represents equipment purchased for cash.
b. Issued short-term notes payable with a par value of $20,000. Retired bonds payable at maturity.
c. Paid cash dividends of $30,000.
d. Issued common stock at par value for cash.
Analyze:
Was the amount of net cash provided by operating activities sufficient to cover the cash that the company required for financing activities? Explain.

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Sand Products, Inc. e Balance Sheet December 31, 2016 and 2015 Assets 2016 2015 Cash 1841 0 8 650 9000 015 0 2 50 5000 3500 Accounts Receivable (Net) Prepaid A and Property, Plant, and Equipment Total Assets 4 8 9 60 4 27000 Liabilities and Stockholders' Equity Liabilities 13 00 00o 850 Notes Payable-Short Term Income Taxes Payable 850 Bonds Payable otal Liabilities 550 Stockholders E Common Stock Retained Earnings Total Stockholders Equity Total Liabilities and Stockholders Equity 457 4 3000 2700 410 Sand Products, Inc Condensed Income Statement Year Ended December 31,2016 Revenues (including gain on sale of equipment) Costs and Expenses 925 600 Cost of Goods Sold Depreciation Expense Selling and Administrative Expenses Interest Expense Income Taxes Expense 5016 00 리01700 195000 1200 0 5 8 8 9 0 881 9 137410 Total Costs and Expenses Net Income After Income Taxes