CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 5-16 (Part Level Submission) A comparative balance sheet for Sheffield Corporation is presented below December 31 Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation-Equipment 2017 2016 72,75022,000 83,910 181,910 72,910 261,910 68,160 191,160 112,160 202,160 (70,910) (44,160) $602,480 $551,480 Total Liabilities and Stockholders Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings 35,910 49,160 50,000 200,000 214,000164,000 138,320 $602,480 $551,480 202,570 Total Additional information 1. Net income for 2017 was $128,820. No gains or losses were recorded in 2017 2. Cash dividends of $64,570 were declared and paid 3. Bonds payable amounting to $50,000 were retired through issuance of common stock Prepare a statement of cash flows for 2017 for Sheffield Corporation. (Show amounts that decrease cash flow with either a -sign e.g.-15,000 or in parenthesis e.g. (15,000).) SHEFFIELD CORPORATION