Problem 124

Selected financial statement information and additional data for Stanislaus Co. is presented below.

December 31

2016 2017

Cash $39,880$ 69,480

accounts receivable (net) 85,060 140,520

Inventory 168,660 202,690

Land 58,930 19,620

Equipment 501,660 786,720

TOTAL $854,190 $1,219,030

Accumulated depreciation $82,710 $114,990

Accounts payable 49,400 85,180

Notes payable - short-term 67,210 28,250

Notes payable - long-term 165,420 300,570

Common stock 423,120 489,410

Retained earnings 66,330 200,630

TOTAL $854,190 $1,219,030

Additional data for 2017:

1.Net income was $215,600.

2.Depreciation was $32,280.

3.Land was sold at its original cost.

4.Dividends of $81,300 were paid.

5.Equipment was purchased for $83,620 cash.

6.A long-term note for $201,440 was used to pay for an equipment purchase.

7.Common stock was issued to pay a $66,290 long-term note payable.

Prepare a statement of cash flows for the year ending December 31, 2017. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Stanislaus Co.

Statement of Cash Flows