The comparative balance sheets of Grouper Inc. at the beginning and the end of the year 2017 are as follows.
GROUPER INC.
BALANCE SHEETS |
| Dec. 31, 2017 |
Jan. 1, 2017 |
Inc./Dec. |
| Assets |
| Cash |
mce_markernbsp;46,760 |
mce_markernbsp;14,760 |
$32,000 |
Inc. |
| Accounts receivable |
94,360 |
89,600 |
4,760 |
Inc. |
| Equipment |
42,360 |
23,600 |
18,760 |
Inc. |
| Less: Accumulated Depreciation-Equipment |
20,360 |
11,000 |
9,360 |
Inc. |
| Total |
$163,120 |
$116,960 |
| Liabilities and Stockholders' Equity |
| Accounts payable |
mce_markernbsp;23,360 |
mce_markernbsp;16,600 |
6,760 |
Inc. |
| Common stock |
101,760 |
81,600 |
20,160 |
Inc. |
| Retained earnings |
38,000 |
18,760 |
19,240 |
Inc. |
| Total |
$163,120 |
$116,960 |
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).)