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Shown below are comparative balance sheets for Sandhill Company.

Shown below are comparative balance sheets for Sandhill Company.

Shown below are comparative balance sheets for Sandhill Company.

Sandhill Company
Comparative Balance Sheets
December 31
Assets
 
2017
   
2016
 
Cash
 
$ 211,208
   
$ 68,332
 
Accounts receivable
 
273,328
   
236,056
 
Inventory
 
518,702
   
587,034
 
Land
 
248,480
   
310,600
 
Equipment
 
807,560
   
621,200
 
Accumulated depreciation—equipment
 
(204,996
)
 
(99,392
)
Total
 
$1,854,282
 
 
$1,723,830
 
Liabilities and Stockholders’ Equity
           
Accounts payable
 
$ 121,134
   
$ 133,558
 
Bonds payable
 
465,900
   
621,200
 
Common stock ($1 par)
 
670,896
   
540,444
 
Retained earnings
 
596,352
 
 
428,628
 
Total
 
$1,854,282
 
 
$1,723,830
 


Additional information:

1.   Net income for 2017 was $288,858.
2.   Depreciation expense was $105,604.
3.   Cash dividends of $121,134 were declared and paid.
4.   Bonds payable amounting to $155,300 were redeemed for cash $155,300.
5.   Common stock was issued for $130,452 cash.
6.   No equipment was sold during 2017.
7.   Land was sold for its book value.


Prepare a statement of cash flows for 2017 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -45,000, or in parenthesis e.g. (45,000)). 

Sandhill Company
Statement of Cash Flows
Choose the accounting period
 December 31, 2017For the Year Ended December 31, 2017For the Quarter Ended December 31, 2017
     
   
$Enter a dollar amount
 
     
     
 
$Enter a dollar amount
 
 
 
Enter a dollar amount
 
 
     
     
     
     
     
     
     
 
Enter a dollar amount
 
 
   
Enter a total amount for section two
 
     
     
 
Enter a dollar amount
 
 
 
Enter a dollar amount
 
 
 
Enter a dollar amount
 
 
   
Enter a total amount for section three
 
     
     
   
Enter a dollar amount
 
Select a closing name for this statement
 Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing Activi
 
manish jayant 10-Sep-2020

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