cach flow

Test 10 Point: Question 20 A comparative statement of financial position for Gibades. Company appears below: Ghadect's Compay Comparative Statement of Financial Position Dec 31, 2017 Dec 31, 2016 Assets Equipment 60,000 32,000 Accumulated depreciation equipment (20,000) (14,000) Long-term investments 18,000 Prepaid expenses 6,000 9,000 Inventory 25.000 18,000 Accounts receivable 18.000 14,000 Cash 50.000 10.000 Total assets 122.000 87.000 0 Equity and Libilities Share capital-ordinary 40.000 23,000 Retained earnings 28,000 10.000 Bonda payable 37.000 47.000 Accounts payable 17.000 7.000 Total equity and liabilities 122.000 87.000 Additional information 1. Net income for the year ending December 31, 2017 was 50,000 2 Cash dividends of 15,000 were declared and paid during the year 3. Long-term investments that had a cost of 18,000 were sold for 14,000 4. Sales for 2017 were 150,000 5 bonds payable amounting to 50,000 were retired through issuance of ordinary shares. Instructions Prepare a statement of cash flows for the year ended December 31, 2017, using the indirect method. Use the editor to format your answer Question 21 O Points 96 minut