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Based on the information provided below for Nash Company prepare a statement of cash flows using the Direct and Indirect methods. Prepare the statements on this worksheet below the data provided. Submit the worksheet provided in Excel. Show all your work. Grading will be roughly based on the accuracy of the statements prepared and the correct presentation of the statements. NASH COMPANY COMPARATIVE BALANCE SHEET AS OF MAY 31 2017 2016 Current assets Cash $28,300 $20,100 Accounts receivable 74,800 57,600 Inventory 219,200 249,500 Prepaid expenses 8,900 7,100 Total current assets 331,200 334,300 Plant assets Plant assets 596,000 505,100 Less: Accumulated depreciationplant assets 150,400 124,300 Net plant assets 445,600 380,800 Total assets $776,800 $715,100 Current liabilities Accounts payable $122,200 $114,700 Salaries and wages payable 47,700 72,100 Interest payable 26,700 24,700 Total current liabilities 196,600 211,500 Long-term debt Bonds payable 70,000 100,000 Total liabilities 266,600 311,500 Stockholders equity Common stock, $10 par 370,000 280,000 Retained earnings 140,200 123,600 Total stockholders equity 510,200 403,600 Total liabilities and stockholders equity $776,800 $715,100 NASH COMPANY INCOME STATEMENT FOR THE YEAR ENDED MAY 31, 2017 Sales revenue $1,255,000 Cost of goods sold 715,500 Gross profit 539,500 Expenses Salaries and wages expense 251,700 Interest expense 74,300 Depreciation expense 26,100 Other expenses 8,100 Total expenses 360,200 Operating income 179,300 Income tax expense 43,200 Net income $136,100 The following is additional information concerning Nashs transactions during the year ended May 31, 2017. 1 All sales during the year were made on account. 2 All merchandise was purchased on account, comprising the total accounts payable account. 3 Plant assets costing $90,900 were purchased by paying $21,900 in cash and issuing 6,900 shares of stock. 4 The other expenses are related to prepaid items. 5 All income taxes incurred during the year were paid during the year. 6 In order to supplement its cash, Nash issued 2,100 shares of common stock at par value. 7 Cash dividends of $119,500 were declared and paid at the end of the fiscal year.

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