20) Problem 23-2 The comparative balance sheets for Splish Corporation show the following information Study Cash Accounts receivable Inventory Available for sale debt investments Buildings Equipment Patents December 31 2017 2016 $33,700 $12,800 12,200 9,900 12,000 9,100 -0- 3,000 -0 30,000 44,900 19,800 5,000 6,200 $107,800 $90,800 Allowance for doubtful accounts Accumulated depreciation-equipment Accumulated depreciation-building Accounts payable Dividends payable Notes payable, short-term (nontrade) Long-term notes payable Common stock Retained earnings $2,900 2,100 -0- 5,000 -0- 3,100 31,000 43,000 20.700 $102,800 $4,500 4,500 6,000 3,000 5,000 4,000 25,000 33,000 5,800 $90.800 Additional data related to 2017 are as follows. 1. Equipment that had cost $11,100 and was 40% depreciated at time of disposal was sold for $2,400 2. $10,000 of the long-term note payable was paid by issuing common stock 3. Cash dividends paid were $5,000. 4. On January 1, 2017, the building was completely destroyed by a food. Insurance proceeds on the building were $29,800 (net of $2,100 taxes), 5. Investments (available for sale) were sold at $1,700 above their cost. The company has made similar sales and investments in the past. 6. Cash was paid for the acquisition of equipment. 7. A long-term note for $16,000 was issued for the acquisition of equipment 8. Interest 1.900 and income taxes OSASCO Were paid in cash U H R 1 System Announcements PRINTE CES 1. A long-term noce for $10,000 was issue for the acquisition or equipment. 8. Interest of $1,900 and income taxes of $6,500 were paid in cash. Prepare a statement of cash flows using the indirect method. Flood damage is unusual and infrequent in that part of the country. (Show amounts that decrease cash e.g.-15,000 or in parenthesis e.g. (15,000).) SPLISH CORPORATION Statement of Cash Flows Study Adjustments to reconcile net income to Da tudy Supplemental disclosures of cash flow information: LINK TO TEXT LINK TO TEXT