PREPARE CASH FLOW STATEMENT USING INDIRECT METHOD FOR CARLA INC

Carla Inc. had the following condensed balance sheet at the end of operations for 2016. CARLA INC. BALANCE SHEET DECEMBER 31, 2016 Cash $8,400 Current liabilities $14,900 Current assets other than cash 29,100 Long-term notes payable 26,100 Equity investments 19,600 Bonds payable 25,200 Plant assets (net) 67,600 Common stock 75,500 Land 39,400 Retained earnings 22,400 $164,100 $164,100 During 2017, the following occurred. (a) Carla Inc. sold part of its investment portfolio for $12,900. This transaction resulted in a gain of $5,100 for the company. No unrealized gains or losses were recorded on these investments in 2017. (b) Dividends totaling $9,600 were paid to stockholders. (c) A tract of land was purchased for $12,100. (d) Net income was $34,700 after allowing depreciation of $13,700. (e) Bonds payable in the amount of $11,300 were redeemed at par. Land was purchased through the issuance of $22,900 in bonds. An additional $9,700 in common stock was issued at par. ES During 2017, the following occurred. (a) Carla Inc. sold part of its investment portfolio for $12,900. This transaction resulted in a gain of $5,100 for the company. No unrealized gains or losses were recorded on these investments in 2017. (b) Dividends totaling $9,600 were paid to stockholders. (c) A tract of land was purchased for $12,100. (d) Net income was $34,700 after allowing depreciation of $13,700. Bonds payable in the amount of $11,300 were redeemed at par. (f) Land was purchased through the issuance of $22,900 in bonds. (8) An additional $9,700 in common stock was issued at par. (h) Both current assets (other than cash) and current liabilities remained at the same amount. (a) Prepare a statement of cash flows for 2017 using the indirect method. (Show amounts that decrease cash flow with either a-sign eg -15,000 or in parenthesis e.g. (15,000).) CARLA INC. STATEMENT OF CASH FLOWS For the Year Ended December 31, 2017 (a) Prepare a statement of cash flows for 2017 using the indirect method. (Show amounts that decrease cash flow with either a-sign eg. -15,000 or in parenthesis es (15,000)) CARLA INC. STATEMENT OF CASH FLOWS For the Year Ended December 31, 2017 Adjustments to reconcile net income to net cash provided by operating activities: Save for Later > 1 Attempts: 0 of 1 used Submit