Comparative statements of financial position for Erisa Magambo A/S are presented on the next page.

Additional information:
1. Net income for 2017 was €120,000.
2. Cash dividends of €70,000 were declared and paid.
3. Bonds payable amounting to €50,000 were redeemed for cash €50,000.
4. Ordinary shares were issued for €50,000 cash.
5. Depreciation expense was €24,000.
6. Sales for the year were €978,000.
Instructions
Prepare a worksheet for a statement of cash flows for 2017 using the indirect method. Enter the reconciling items directly on the worksheet, using letters to cross-reference each entry.

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ERISA MAGAMBO A/S Comparative Statements of Financial Position December 31 Assets Land Equipment Accumulated depreciation-equipment Inventory Accounts receivable Cash 2017 75,000 250,000 (66,000) 180,000 85,000 58,000 582,000 2016 100,000 200,000 (42,000) 187,000 76,000 22,000 543,000 Total Equity and Liabilities Share capital-ordinary (1 par) Retained earnings Bonds payable Ac 214,000 184,000 150,000 34,000 582,000 164,000 134,000 200,000 45,000 543,000 counts payable Total