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i Chrome File Edit View History Bookmarks People Window Help 16% . Mon 12:36 PM E e l Chegg.com Montana Secure https://edugenwileyplus.com/edugen/studentrmainfr.uni IMG 2058.JPG Scans-09-27-2017 120226...ed) 1.jpg Weygandt, Accounting Principles, 12e Principles of Accounting 12e (ACC 171/272) STANDARD VIEW PRINTER VERSION NMENT RESOURCESExercise 17-8 Here are comparative balance sheets for Velo Company IMG 1188.PNG Scans-09-27-2017 120226...ed) 2.jpg VELO COMPANY Fxocise 179 Balance Sheets 2017 2016 Assets Cash Review Results by Study $73,500 $32,900 86,200 70,600 169,600 187,200 73,300 101,200 259,600 200,700 Accounts receivable Screen Shot 2017-11-...5.52 PM IMG 2066.jpg Land Equipment (65,400) (33,900) $S95,800 $558,700 Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings ANDREA.jpg Screen Shot 2017-11-...6.08 PM 35,300 $46,600 203,000 217,200 174,700 134,400 595,800 $558,700 151,500 191,800 Total Screen Shot 2017-11-...6.14 PM IMG 2067.jpg 1. Net income for 2017 was $101,500 2. Cash dividends of $44,100 were declared and paid. 3. Bonds payable amounting to s51,500 were redeemed for cash s51,500 4. Common stock was issued for $42,500 cash 5. No equipment was sold during 2017, but land was sold et cost. Prepore a statement of cash Hows for 2017 using the indirect method. (Show amounts that decrease cash fiow with either a -sign e.g. -15,000, or in parenthesis e.g. (15,000)) Screen Shot 2017-11-...3.21 PM IMG 2068.jpg parenthesis e.g. (5,the VELO COMPANY Statament of Cash Flows IMG 2069.jpg Acjustments to reconcile net Income to

Explanation / Answer

Statement of Cash Flows For the Year Ended December 31, 2017 Cash flows from Operating Activities Net income 101500 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 32500 Increase in Accounts Receivable -15600 Decrease in Inventory 17600 Decrease in Accounts Payable -11300 23200 Net Cash Provided by Operating Activities 124700 Cash Flows from Investing Activities Sale of Land 27900 Purchase of Equipment -58900 Net Cash used by Investing Activities -31000 Cash Flows from Financing Activities Issuance of Common Stock 42500 Payment of Cash Dividends -44100 Redemption of Bonds -51500 Net Cash used by Financing Activities -53100 Net Increase in Cash 40600 Cash at Beginning of Period 32900 Cash at End of Period 73500

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