Use the Stenback Media Corporation data in Short Exercise S16-7 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.
In Short Exercise S16-7
Stenback Media Corporation had the following income statement and balance sheet for 2016:

Transcribed Image Text:

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: Cash S 4,900 4,100 8,100 Accounts Receivable 9,100 Long-term Assets: 108,250 (33,250) 89,000 86,200 Plants Assets 80,350 (6,350) Total Assets Liabilities Current Liabilities: Accounts Payable S 6,500 4,000 Long-term Liabilities: Notes Payable 10,000 16,500 11,000 15,000 Total Liabilities Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 24,000 48,500 72,500 S 89,000 19,000 52,200 71,200 86,200