Current Attempt in Progress

A comparative balance sheet for Cullumber Corporation is presented as follows.

		December 31
Assets		2017			2016
Cash		$ 109,200			$ 33,000
Accounts receivable		124,780			101,080
Inventories		271,780			285,580
Land		108,280			167,080
Equipment		391,780			302,080
Accumulated Depreciation-Equipment		(105,280)			(65,080)
Total		$900,540			$823,740
Liabilities and Stockholders' Equity
Accounts payable		$ 52,780			$ 72,580
Bonds payable		225,000			300,000
Common stock ($1 par)		321,000			246,000
Retained earnings		301,760			205,160
Total		$900,540			$823,740

Additional information:

1.		Net income for 2017 was $191,060.
2.		Cash dividends of $94,460 were declared and paid.
3.		Bonds payable amounting to $75,000 were retired through issuance of common stock.
4.		Land was sold for cost.
5.		Equipment was purchased but no equipment was sold.

(a)

Prepare a statement of cash flows for 2017 for Cullumber Corporation. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

CULLUMBER CORPORATION Statement of Cash Flows choose the accounting period

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Adjustments to reconcile net income to
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Issued common stock to retire bonds outstanding		$enter a dollar amount