Exercise 5-16 (Part Level Submission)

A comparative balance sheet for Marin Corporation is presented below.

		December 31
Assets		2017			2016
Cash		$ 72,710			$ 22,000
Accounts receivable		84,400			68,690
Inventory		182,400			191,690
Land		73,400			112,690
Equipment		262,400			202,690
Accumulated Depreciation-Equipment		(71,400	)		(44,690	)
Total		$603,910			$553,070
Liabilities and Stockholders' Equity
Accounts payable		$ 36,400			$ 49,690
Bonds payable		150,000			200,000
Common stock ($1 par)		214,000			164,000
Retained earnings		203,510			139,380
Total		$603,910			$553,070

Additional information:

1.		Net income for 2017 was $129,800. No gains or losses were recorded in 2017.
2.		Cash dividends of $65,670 were declared and paid.
3.		Bonds payable amounting to $50,000 were retired through issuance of common stock.

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