A. Prepare a statement of cash flows for 2017

Problem 5-6 (Part Level Submission) Wildhorse Inc. had the following balance sheet at December 31, 2016 BALANCE SHEET DECEMBER 31, 2016 34,430 45,430 104,430 27,630 $211,920 24,430 Accounts payable 25,630 Notes payable (iong-term) 36,430 Common stock 81,000 Retained earnings 44,430 Accounts receivable Plant assets (net) Land $211,920 During 2017, the following occurred. 1. Wildhorse Inc. sold part of its investment portfolio for $18,171. This transaction resulted in a gain of $6,571 for the firm. The company classifies its investments as available-for-sale 2. A tract of land was purchased for $17,430 cash. 3. Long-term notes payable in the amount of $19,171 were retired before maturity by paying $19,171 cash. 4. An additional $23,171 in common stock was issued at par 5. Dividends of $11,371 were deciared and paid to stockholders 6. Net income for 2017 was $36,430 after alowing for cepreciation of $14,171 7. Land was purchased through the issuance of $39,430 in bonds 8. At December 31, 2017, Cash was $41,430, Accounts Receivable was $46,030, and Accounts Payable remained at $34,430