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i Chrome File Edit View History Bookmarks People Window Help e chegg Study 1 Guided Solutio × 15% Mon 12:38 PM a E . /rel WileyPLUS Montana Secure https://edugenwileyplus.com/edugen/student/maintr.uni Screen Shot 2017-11-...6.24 PM 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 RESOURCES Exercise 17-9 Chapter 17 Rodriquez Corporation's comparative balance sheets are presented below IMG 1188.PNG Scans-09-27-2017 120226...ed) 2.jpg Exercise 17-8 Balance Sheets 2017 $16,600 24,900 22,000 20,250 16,050 60,150 69,750 (14150)(10,300) 2016 Cash Accounts receivable $17,500 Screen Shot 2017-11-...5.52 PM IMG 2066.jpg Equipment Total $115,000 Accounts payable Bonds payable Common stock Retained earnings $14,550 $11,150 ANDREA.jpg 1100030,100 Screen Shot 2017-11-...6.08 PM 49,700 32,500 $107,750 45,10o 28,650 $115,000 Total Screen Shot 2017-11-...6.14 PM IMG 2067.jpg . Net income was $18,250. Dividends declared and paid were $14,400 2. Equipment which cost 9,600 and had accumulated depreciation of $1,B00 was sold for $3,800 3. No noncash investing and financing activities occurred during 2017 Prepare a statement of cash flows for 2017 using the indirect method. (Show amounts that decrease cash flow with either a -sign e.g. -45,0oo, or in e.g. (45,000).) Screen Shot 2017-11-...3.21 PM IMG 2068.jpg Statement of Cash Flows Screen Shot 2017-11-...6.05 PM IMG 2069.jpg Adjustments to reconcile net income to

Explanation / Answer

RODRIQUEZ CORPORATION Cash Flow Statement For year ended 31 December 2017 Cash flows from operating activities Net Income $   18,250 Adjustment to reconcile net income to: Depreciation expense $      5,650 $14,150-$10,300+$1,800 Loss on sale of equipment $      4,000 $9,600-$1,800-$3,800 Changes in current operating assets and liabilities Increase in accounts receivable $   (2,900) Increase in accounts payable $      3,400 $   10,150 Net cash provided by operating activities $   28,400 Cash flows from investing activities Proceed from sale of equipment $      3,800 Purchase of investment $   (4,200) $16,050-$20,250 Net cash used by investing activities $       (400) Cash flows from financing activities Proceeds from issue of shares $      4,600 Repayment of bonds $ (19,100) Dividend paid $ (14,400) Net cash used by financing activities $ (28,900) Net increase in cash and cash equivalents $       (900) Cash and cash equivalents at beginning of period $   17,500 Cash and cash equivalents at end of period $   16,600 Net cash provided by operating activities $   28,400 Less: Capital expenditure $   (4,200) Less: Dividend $ (14,400) Free cash flow $      9,800

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