Splish Corporation's balance sheet at the end of 2016 included the following items.
| Current assets (Cash $82,000) |
$236,330 |
Current liabilities |
$151,330 |
| Land |
31,550 |
Bonds payable |
101,330 |
| Buildings |
121,330 |
Common stock |
181,550 |
| Equipment |
91,550 |
Retained earnings |
45,550 |
| Accum. depr.-buildings |
(31,330) |
|
Total |
$479,760 |
| Accum. depr.-equipment |
(11,000) |
|
| Patents |
41,330 |
|
| Total |
$479,760 |
|
The following information is available for 2017.
1. Net income was $55,120.
2. Equipment (cost $21,330 and accumulated depreciation $9,330) was sold for $11,330.
3. Depreciation expense was $5,330 on the building and $10,330 on equipment.
4. Patent amortization was $2,500.
5. Current assets other than cash increased by $29,000. Current liabilities increased by $14,330.
6. An addition to the building was completed at a cost of $28,330.
7. A long-term investment (Equity) in stock was purchased for $16,000.
8. Bonds payable of $51,550 were issued.
9. Cash dividends of $30,000 were declared and paid.
10. Treasury stock was purchased at a cost of $11,000.
(a) Prepare a statement of cash flows for 2017.