Create a Cashflow statement using the following below:

Jan-Feb

Net Income 57000

Depreciation 20000

Purchased fixed assets paying cash 310000

Received $90,000 cash for issuance of notes payable 90000

Received $120,000 cash for issuance of common stock 120000

Paid $20,000 for purchase of treasury stock 20000

Ending cash balance 50000

Class Start Date Jan-Feb

Assets 2017 2016

Current assets:

Cash 50000 20000

Accounts receivable 75000 85000

Inventory 100000 80000

Long-term assets

Plant assets 430000 120000

Accumulated depreciation 12000 9000

Total Assets 667000 314000

Liabilities

Current liabilities

Accounts payable 32000 20000

Accrued liabilities 86000 15000

Long-term liabilities

Notes payable 90000 0

Total liabilities 208000 35000

Stockholders equity

Common stock 220000 100000

Retained earnings 219000 179000

Treasury stock 20000 0

Total stockholders equity 459000 279000

Total stockholders equity and liabilities667000 314000