Pronghorn Inc. had the following condensed balance sheet at the end of operations for 2016.

Pronghorn INC. BALANCE SHEET DECEMBER 31, 2016
Cash		$8,300		Current liabilities		$15,400
Current assets other than cash		28,800		Long-term notes payable		26,100
Equity investments		19,500		Bonds payable		25,000
Plant assets (net)		69,100		Common stock		73,200
Land		39,900		Retained earnings		25,900
		$165,600				$165,600

During 2017, the following occurred.

(a)		Pronghorn Inc. sold part of its investment portfolio for $13,100. This transaction resulted in a gain of $4,900 for the company. No unrealized gains or losses were recorded on these investments in 2017.
(b)		Dividends totaling $9,100 were paid to stockholders.
(c)		Atract of land was purchased for $11,800.
(d)		Net income was $34,400 after allowing depreciation of $13,300.
(e)		Bonds payable in the amount of $10,800 were redeemed at par.
(f)		Land was purchased through the issuance of $22,600 in bonds.
(g)		An additional $10,000 in common stock was issued at par.
(h)		Both current assets (other than cash) and current liabilities remained at the same amount.

Prepare a statement of cash flows for 2017 using the indirect method.

Answer rating: 100% (QA)

Statement of cash flow Cash from operating activities Ne... View the full answer