Screen Shot 2017-11-05 at 10.21.49 AM Exercise 5-14 The comparative balance sheets of Indigo...
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Exercise 5-14 The comparative balance sheets of Indigo Inc. at the beginning and the end of the year 2017 are as follows INDIGO INC. BALANCE SHEETS Dec. 31, 2017 Jan. 1, 2017 Inc./Dec. Assets Cash Accounts receivable Equipment Less: Accumulated Depreciation-Equipment $46,760 94,360 42,360 20,360 $163,120 $ 14,760 89,600 23,600 11,000 $116,960 $32,000 Inc. 4,760 Inc 18,760 Inc. 9,360 Inc. Total Accounts payable Common stock Retained earnings $23,360 101,760 38,000 $163,120 16,600 81,600 18,760 $116,960 6,760 Inc. 20,160 Inc. 19,240 Inc. Total Net income of $47,360 was reported, and dividends of $28,120 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).) INDIGO INC. Statement of Cash Flows
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