Exercise 5-14 The comparative balance sheets of Waterway Inc. at the beginning and the end...
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Exercise 5-14 The comparative balance sheets of Waterway Inc. at the beginning and the end of the year 2017 are as follows. WATERWAY INC. BALANCE SHEETS Dec. 31, 2017 Jan. 1, 2017 Inc./Dec. Assets Cash $ 48,450 95,720 43,720 21,720 $166,170 $ 16,450 89,270 23,270 11,000 $117,990 $32,000 Inc. 6,450 Inc. 20,450 Inc. 10,720 Inc. Accounts receivable Equipment Less: Accumulated Depreciation Equipment Total Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total $ 24,720 103,450 38,000 $166,170 $ 16,270 81,270 20,450 $117,990 8,450 Inc. 22,180 Inc. 17,550 Inc. Net income of $48,720 was reported, and dividends of $31,170 were paid in 2017. New equipment was purchased and none was sold. Prepare a statement of cash flows for the year 2017. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) WATERWAY INC. Statement of Cash Flows Adjustments to reconcile net income to LINK TO TEXT
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