Question: Spike Corp balance sheet is below with the management narrative: Comparative Balance Sheet-Spike 12/31/2015 Assets Cash Accounts Receivable Inventory Short Term Prepaid Rent PP&E
Spike Corp balance sheet is below with the management narrative: Comparative Balance Sheet-Spike 12/31/2015 Assets Cash Accounts Receivable Inventory Short Term Prepaid Rent PP&E Accum Depr Total Assets Liabilities & Equity Accounts Payable Accrued Liabilities Short Term Inc Tax Payable Long Term Bonds Payable Long Term Bank Note Common Stock Retained Earnings Total Liabilities & Equity S $ $ $ $ $ $ $ $ $ $ S $ S $ 51 S 13 S 22 S 23 S 542 S (353) S 298 $ 18 S 14 $ 24 $ 143 $ 33 $ 56 $ 10 S 298 $ 12/31/2016 20 22 36 19 542 (348) 291 12 8 25 135 29 62 20 291 . . Net Income for the period was $12. The company sold equipment for $13 that was originally purchased for $30. The sold asset had accumulated depreciation of $13. The company paid a cash dividend during the year and did not issue any bonds payable or receive a new long- term bank note or repurchase any of its own common stock. equired: Construct, in good form, the company's Statement of Cash Flows for the period, using the indirect method. (15pts) 10
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