This problem continues the Daniels Consulting situation from Problem P15-23 of Chapter 15. Daniels Consulting's comparative balance sheet is shown below.

Additional data follow:
a. Depreciation expense for the year, $1,616.
b. Daniels Consulting had no disposal of plant assets during the year. Plant assets were acquired for cash.
c. Amortization of the discount on bonds payable for the year, $11,206.
d. Daniels Consulting issued a bonds payable with a face value of $900,000, receiving cash of $787,932.
e. Net income for the year was $190,537.
f. Cash receipts from issuance of common stock totaled $115,000.
Prepare the statement of cash flows using the indirect method.

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DANIELS CONSULTING Comparative Balance Sheet December 31, 2017 and 2016 2017 2016 Assets Current Assets: Cash Accounts Receivable Office Supplies S1,457,524 25,700 2,150 $ 31,700 700 50 Long-term Assets: 4,800 (80) S 37,170 Plants Assets 84,800 (1,696) S 1,568,478 Accumulated Depreciation-Plant Assets Total Assets Liabilities Current Liabilities: Accounts Payable Salaries Payable Unearned Revenue Interest Payable 4,100 467 1,600 S 7,300 1,800 25,000 Long-term Liabilities: Notes Payable Bonds Payable Discount on Bonds Payable 500,000 900,000 (100,862) 1,333,238 Total Liabilities 6,167 Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 115,240 120,000 235,240 S 1,568,478 240 30,763 31,003 S 37,170