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Additional information: 1. Net income for the year ending December 31, 2017, was $35,000....

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Accounting

Additional information:

1. Net income for the year ending December 31, 2017, was $35,000.

2. Cash dividends of $15,000 were declared and paid during the year.

3. Long-term investments that had a cost of $17,000 were sold for $14,000.

4. No equipment was sold during 2017.

Instructions: Prepare a statement of cash flows for the year ended December 31, 2017, using the indirect method.

A comparative balance sheet for Rocker Company appears below:

ROCKER COMPANY

Comparative Balance Sheet

Assets Dec. 31, 2017 Dec. 31, 2016
Cash $34,000 $11,00
Accounts receivable 18,000 13,000
Inventory 25,000 17,000
Prepaid expenses 6,000 9,000
Long-term investments 0 17,000
Equipment 60,000 33,000
Accumulated depreciation - equipment (20,000) (15,000(
Total assets $123,000 $85,000
Liabilities and Stockholders' Equity
Accounts payable $17,000 $7,000
Bonds payable 36,000 45,000
Common stock 40,000 23,000
Retained earnings 30,000 10,000
Total liabilities and stockholders' Equity $123,000 $85,000

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