5. The comparative balance sheet for 2017 and 2016 for Samuel Corporation as well as additional

information concerning transactions and events during 2017 are presented below:

Samuel Corporation

Balance Sheet

December 31, 2017 and 2016

20172016

Cash$35,900$10,200

Accounts receivable (net)48,30020,300

Inventory35,00042,000

Long-term investments015,000

Property, plant & equipment236,500150,000

Accumulated depreciation(37,700)(25,000)

$318,000$212,500

Accounts payable$19,000$26,500

Accrued liabilities19,00017,000

Long-term notes payable70,00050,000

Common stock130,00090,000

Retained earnings80,00029,000

$318,000$212,500

Additional data:

(a) Net income for the year 2016, $90,000.

(b) Depreciation on plant assets for the year, $12,700.

(c) Sold the long-term investments for $33,000.

(d) Paid dividends of $39,000.

(e) Purchased machinery costing $26,500, paid cash.

(f) Purchased machinery and gave a $60,000 long-term note payable.

(g) Paid a $40,000 long-term note payable by issuing common stock.

Required:

Using the indirect method, prepare a statement of cash flows for 2017 for Samuel Corporation.