Use the Stenback Media Corporation data in Short Exercise S14-7 and the results you calculated from the requirements. Prepare Stenbeck Media€™s statement of cash flows€” indirect method for the year ended December 31, 2016.
Exercise S14-7

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STENBACK MEDIA CORPORATION Income Statement Year Ended December 31, 2016 Sales Revenue Depreciation Expense Plant Assets Other Expenses Net Income $ 77,000 26,900 48,500 S 1,600 STENBACK MEDIA CORPORATION Comparative Balance Sheet December 31, 2016 and 2015 2016 2015 Assets Current Assets: 4,900 4,100 9,100 Cash Accounts Receivable 8,100 Long-term Assets 108,250 33,250) 89,000 86,200 80,350 6,350) Plants Assets Total Assets Liabilities Current Liabilities: Accounts Payable S6,500 4,000 Long-term Liabilities: 11,000 15,000 Notes Payable 10,000 16,500 Total Liabilities Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders Equity 24000 19,000 52,200 71,200 48,500 72,500 S 89,000 86,200