Exercise 5-15 Presented below is a condensed version of the comparative balance sheets for Splish Corporation for the last two years at December 31. 2017 2016 Cash Accounts receivable Investments Equipment Accumulated Depreciation-Equipment $ 265,500 270,000 78,000 447,000 (159,000 ) 201,000 240,000 460,500 $ 117,000 277,500 111,000 360,000 (133,500 ) 226,500 240,000 265,500 Current liabilities Common stock Retained earnings Additional information: Investments were sold at a loss of $15,000; no equipment was sold; cash dividends paid were $45,000; and net income was $240,000. Prepare a statement of cash flows for 2017 for Splish Corporation. (Show amounts that decrease cash flow with either a sign e.g. -15,000 or in parenthesis e.g. (15,000).) SPLISH CORPORATION Statement of Cash Flows For the Year Ended December 31, 2017 , TCash Flows from Operating Activities T Net Income 240000 Adjustments to reconcile net income to T Net Cash Provided by Operating Activities T Depreciation Expense 25500 Decrease in Accounts Receivable : 7500 Decrease in Current Liabilities (25500) T Net Cash Provided by Operating Activities : T Cash Flows from Investing Activities Sale of Investments 87000 Loss on Sale of Investments (15000) T Loss on Sale of Investments A T (15000) Net Cash Provided by Investing Activities 72000 T Cash Flows from Financing Activities A Payment of Cash Dividends 4 (45000) Net Cash Used by Financing Activities (45000) T Cash at Beginning of Year 117000 Cash at End of Year 265500 LINK TO TEXT LINK TO TEXT |x Your answer is incorrect. Try again. Determine Splish Corporation's free cash flow. Free cash flow Click if you would like to Show Work for this question: Open Show Work