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uni Kieso, Intermediate Accounting, 16e Intermediate Accounting (ACCT 300/301 BACK Question 1 Presented below are data taken from the records of Novak Company December 31, 2017 mber 31, 2016 Cash Current assets other than cash Long-term investments Plant assets 15,100 84,800 10,100 334,700 $444,700 8,100 59,800 53,400 216,700 $338,000 $19,800 40,400 74,500 255,100 54,900 444,700 40,000 22,100 Current liabilities Bonds payable Common stock Retained earnings 255,100 20,800 $338,000 Additional information: :. Held-to-maturity securities carried at a cost of $43,300 on December 31, 2016, were sold in 2017 for $33,700. The loss (not unusual) was incorrectly charged directly to Retained Earnings. 2. Plant assets that cost $49,500 and were 80% depreciated were sold during 2017 for S7.900. The loss was incorrectly charged directly to Retained Earni 3. Net income as reported on the income statement for the year was s57,500. 4. Dividends paid amounted to $11,800. 5. Depreciation charged for the year was $19,400. Prepare a statement of cash flows for the year 2017 using the indirect method. (Show amounts that decrease cash flow with either a -sign e.g. 15,000 or in pareathesis e-g. (15,000) NOVAK COMPANY of Cash Flows Cash Flows from Operating Activites 57,500

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