Presented below are data taken from the records of VaughnCompany. December 31, 2017 December 31, 2016 Cash $15,100 $8,100Current assets other than cash 85,300 60,300 Long-term investments10,000 53,000 Plant assets 337,500 213,900 $447,900 $335,300Accumulated depreciation $20,000 $40,400 Current liabilities 40,40021,900 Bonds payable 74,600 –0– Common stock 253,700 253,700Retained earnings 59,200 19,300 $447,900 $335,300 Additionalinformation: 1. Held-to-maturity securities carried at a cost of$43,000 on December 31, 2016, were sold in 2017 for $33,700. Theloss (not unusual) was incorrectly charged directly to RetainedEarnings. 2. Plant assets that cost $49,900 and were 80%depreciated were sold during 2017 for $7,900. The loss wasincorrectly charged directly to Retained Earnings. 3. Net income asreported on the income statement for the year was $56,800. 4.Dividends paid amounted to $5,520. 5. Depreciation charged for theyear was $19,520. Prepare a statement of cash flows for the year2017 using the indirect method.
