Question 1: 15 Prepare Cash Flow Statement using Indirect Method for Banquet, Inc Banquet, Inc Comparative Balance Sheet Dec 31, XXXX Assets 2017 2016 Cash $15,200 $17,700 Accounts Receivable $25,200 $22,300 Investments $20,000 $16,000 Equipment $60,000 $70,000 Ac Dep-Equipment ($14,000) ($10,000) Total Assets $106,400 $116,000 Liablities and Equity Accounts Payable Bonds Payable Common Stock Retained Earnings Total Liabilities and Equity $14,600 $11,100 $10,000 $30,000 $50,000 $45,000 $31,800 $29,900 $106,400 $116,000 Additional Financial Information Sales revenue for the year is $80,000 and expenses total to $61,700. Dividends declared and paid $16,400 Equipment costing $10,000 and had accumulated depreciation of $1,200 was sold for $3,300 No noncash investing and financing activities occurred during 2017