Ch. 12 8. Here are comparative balance sheets for Novak Corp.. Assets Cash Accounts receivable Inventory...

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Ch. 12 8. Here are comparative balance sheets for Novak Corp.. Assets Cash Accounts receivable Inventory Land Novak Corp. Comparative Balance Sheets December 31 Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts Payable Bonds Payable Common stock ($1 par) Retained earnings Total Additional information: 1. Net income for 2017 was $102,500. 2017 $ 72,500 86,500 169,600 73,700 259,200 (66,000) $595,500 $35,200 150,200 214,100 196,000 $595,500 2. Cash dividends of $40,000 were declared and paid. 3. Bonds payable amounting to $53,500 were redeemed for cash $53,500. 4. Common stock was issued for $38,100 cash. 5. No equipment was sold during 2017, but land was sold at cost. 2016 $32,600 71,400 187,300 101,900 200,200 (33,500) $559,900 $46,700 203,700 176,000 133,500 $559,900 Prepare a statement of cash flows for 2017 using the indirect method. A template is on the next page. Lash Flows from Operating Activities: Net Cash Provided (Used) by Operating Activities Cash Flows from Investing Activities: Net Cash Provided (Used) by Investing Activities Cash Flows from Financing Activities: Net Cash Provided (Used) by Financing Activities Net Increase (Decrease] In Cash Cash at Beginning of Period Cash at End of Period Ch. 12 8. Here are comparative balance sheets for Novak Corp.. Assets Cash Accounts receivable Inventory Land Novak Corp. Comparative Balance Sheets December 31 Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts Payable Bonds Payable Common stock ($1 par) Retained earnings Total Additional information: 1. Net income for 2017 was $102,500. 2017 $ 72,500 86,500 169,600 73,700 259,200 (66,000) $595,500 $35,200 150,200 214,100 196,000 $595,500 2. Cash dividends of $40,000 were declared and paid. 3. Bonds payable amounting to $53,500 were redeemed for cash $53,500. 4. Common stock was issued for $38,100 cash. 5. No equipment was sold during 2017, but land was sold at cost. 2016 $32,600 71,400 187,300 101,900 200,200 (33,500) $559,900 $46,700 203,700 176,000 133,500 $559,900 Prepare a statement of cash flows for 2017 using the indirect method. A template is on the next page. Lash Flows from Operating Activities: Net Cash Provided (Used) by Operating Activities Cash Flows from Investing Activities: Net Cash Provided (Used) by Investing Activities Cash Flows from Financing Activities: Net Cash Provided (Used) by Financing Activities Net Increase (Decrease] In Cash Cash at Beginning of Period Cash at End of Period