Selected financial statement information and additional data forStanislaus Co. is presented below. Prepare a statement of cashflows for the year ending December 31, 2017.
December 31
2016 2017
Cash.........................................................$42,000 $60,000
Accounts receivable(net)........................ 84,000 144,200
Inventory..................................................168,000 206,600
Land......................................................... 58,800 26,000
Equipment................................................504,000 789,600
TOTAL.........................................$856,800 $1,226,400
Accumulateddepreciation.......................$84,000 $110,600
Accountspayable.................................... 50,400 91,000
Notes payable -short-term...................... 67,200 29,400
Notes payable -long-term.......................168,000 302,400
Commonstock........................................420,000 487,200
Retainedearnings.................................... 67,200 205,800
TOTAL.........................................$856,800 $1,226,400
Additional data for 2017:
- Net income was $230,200.
- Depreciation was $26,600.
- Land was sold at its original cost.
- Dividends of $91,600 were paid.
- Equipment was purchased for $84,000 cash.
- A long-term note for $201,600 was used to pay foran equipment purchase.
- Common stock was issued to pay a $67,200 long-termnote payable.
