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Additional information 2. Old equipment having an original cost of $57,500 was sold for $1,500 cash. 3. Bonds matured and were paid off at face value for cash. 4. A cash dividend of $40,350 was declared and paid during the year Instructions Prepare a statement of cash flows using the indirect method. 1. New equipment costing $85,000 was purchased for cash during the year P17-10A Data for Cheng Inc. are presented in P17-9A. Further analysis reveals that accounts payable pertain to merchandise creditors. Instructions Prepare a statement of cash flows for Cheng Inc. using the direct method. 17-11A The comparative balance sheets for Rothlisberger Company as of December 31 are presented below. ROTHLISBERGER COMPANY Comparative Balance Sheets December 31 2016 Assets Cash Accounts receivable Inventory 2017 Prepaid expenses Accumulated depreciation-buildings Accumulated depreciation-equipment s 81,000 45,000 62,000 142,000 21,000 130,000 200,000 41,000 151,450 15,280 105,000 200,000 (60,000) 221,000 (45,000) $709,730 Land Buildings (40,000) Equipment 155,000 (35,000) $680,000 Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock, $1 par Retained earnings $ 47,730 260,000 200,000 202,000 40,000 300,000 160,000 180,000 $709.730$680,000 Total dditional information . Operating expenses include depreciation expense of $42,000 and charges from prepaid expenses of $5,720. 2. Land was sold for cash at book value. 3. Cash dividends of $20,000 were paid. 4. Net income for 2017 was $42,000. Additional information 2. Old equipment having an original cost of $57,500 was sold for $1,500 cash. 3. Bonds matured and were paid off at face value for cash. 4. A cash dividend of $40,350 was declared and paid during the year Instructions Prepare a statement of cash flows using the indirect method. 1. New equipment costing $85,000 was purchased for cash during the year P17-10A Data for Cheng Inc. are presented in P17-9A. Further analysis reveals that accounts payable pertain to merchandise creditors. Instructions Prepare a statement of cash flows for Cheng Inc. using the direct method. 17-11A The comparative balance sheets for Rothlisberger Company as of December 31 are presented below. ROTHLISBERGER COMPANY Comparative Balance Sheets December 31 2016 Assets Cash Accounts receivable Inventory 2017 Prepaid expenses Accumulated depreciation-buildings Accumulated depreciation-equipment s 81,000 45,000 62,000 142,000 21,000 130,000 200,000 41,000 151,450 15,280 105,000 200,000 (60,000) 221,000 (45,000) $709,730 Land Buildings (40,000) Equipment 155,000 (35,000) $680,000 Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock, $1 par Retained earnings $ 47,730 260,000 200,000 202,000 40,000 300,000 160,000 180,000 $709.730$680,000 Total dditional information . Operating expenses include depreciation expense of $42,000 and charges from prepaid expenses of $5,720. 2. Land was sold for cash at book value. 3. Cash dividends of $20,000 were paid. 4. Net income for 2017 was $42,000