Problem 125 Selected financial statement information and additional data for Johnston Enterprises is presented below: Johnston Enterprises Balance Sheet and Income Statement Data December 31, 2017 December 31, 2016 Current Assets: Cash $149,500 $115,700 Accounts Receivable 237,700 309,400 396,400 341,900 Inventory Total Current Assets 783,600 767,000 Property, Plant, and Equipment 1,267,900 1,137,000 (478,400) (444,900) Less: Accumulated Depreciation 1,573,100 1,459,100 Total Assets Current Liabilities: Accounts Payable $189,500 $100,200 Notes Payable 51,300 66,500 75,900 84,000 Income Taxes Payable Total Current Liabilities 324,800 242,600 350,000 390,600 Bonds Payable 674,800 633,200 Total Liabilities Total Liabilities 674,800 633,200 Stockholders' Equity Common Stock 510,000 467,500 388,300 Retained Earnings 358,400 898,300 825,900 Total Stockholders' Equity 1,573,100 1,459,100 Total Liabilities & Stockholders' Equity $1,622,400 Sales Revenue $1,514,000 731,700 Less Cost of Goods Sold 781,400 782,300 Gross Profit 841,000 Expenses Depreciation Expense 156,300 138,300 386,400 355,700 Salaries and Wages Expense Interest Expense 33,800 33,800 0 Loss on Sale of Equipment 11,500 Income Before Taxes 253,000 254,500 101,800 Less Income Tax Expense 101,200 151,800 152,700 Net Income Additional Information During the year, Johnston sold equipment with an original cost of $136,000 and accumulated depreciation of $122,800 and purchased new equipment for $266,900 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).) Johnston Enterprises Statement of Cash Flows Adjustments to reconcile net income to