Font Paragraph ACCTG 331, Intermediate Accounting In-Class Exercise 1 Section Groups number Name(s) (Each group only need to submit one completed in-class exercise. Every member of the group will receive the same grade. Please indicate each member's participation next to their names above using 0%, 50%, or 100%) Styles ACCTG 331, Intermediate Accounting 1 In-Cass Assignment #1 25 points Required: Prepare a US GAAP compliant Statement of Cash Flows using the indirect method for the Even Keel Corporation for the year ended December 31, 2017. All information needed to prepare the statement is below. Even Keel Corporation Assets, liabilities and shareholders' equity As of December 31, 2016 and 2017 ($ in millions) 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Current assets Land Building and equipment Accumulated Depreciation Total Assets 318 267 230 140 300 (103) 604 $ 783 Liabilities Accounts Payable Accrued liabilities income taxes payable Current Liabilities Bonds payable Total liabilities Shareholders' Equity Common stock Paid-in-capital in excess of par Retained earnings Total Shareholders' equity Total liabilities and shareholders' equity $ Additional Information: 1 Net income for the vear ended December 31, 2017 is $80,000,000 2. Dividends paid during the year ended December 31, 2017 is $10,000,000 3. No land, buildings or equipment were sold during the year