Exercise 12-17B Direct: Preparing statement of cash flows andsupporting note LO P1, P3, P5Cash...Exercise...

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Accounting

Exercise 12-17B Direct: Preparing statement of cash flows andsupporting note LO P1, P3, P5
Cash and cash equivalents balance, December 31, 2016 $ 35,000
Cash and cash equivalents balance, December 31, 2017 98,420
Cash received as interest 3,500
Cash paid for salaries 101,500
Bonds payable retired by issuing common stock (no gain or losson retirement) 145,000
Cash paid to retire long-term notes payable 175,000
Cash received from sale of equipment 85,750
Cash received in exchange for six-month note payable 35,000
Land purchased by issuing long-term note payable 84,100
Cash paid for store equipment 33,250
Cash dividends paid 21,000
Cash paid for other expenses 56,000
Cash received from customers 679,000
Cash paid for inventory 353,080
Use the above information about the cash flows of Ferron Companyto prepare a complete statement of cash flows (directmethod) for the year ended December 31, 2017. (Amountsto be deducted should be indicated with a minussign.)

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In: AccountingExercise 12-17B Direct: Preparing statement of cash flows andsupporting note LO P1, P3, P5Cash...Exercise 12-17B Direct: Preparing statement of cash flows andsupporting note LO P1, P3, P5Cash and cash equivalents balance, December 31, 2016$35,000Cash and cash equivalents balance, December 31, 201798,420Cash received as interest3,500Cash paid for salaries101,500Bonds payable retired by issuing common stock (no gain or losson retirement)145,000Cash paid to retire long-term notes payable175,000Cash received from sale of equipment85,750Cash received in exchange for six-month note payable35,000Land purchased by issuing long-term note payable84,100Cash paid for store equipment33,250Cash dividends paid21,000Cash paid for other expenses56,000Cash received from customers679,000Cash paid for inventory353,080Use the above information about the cash flows of Ferron Companyto prepare a complete statement of cash flows (directmethod) for the year ended December 31, 2017. (Amountsto be deducted should be indicated with a minussign.)


Cash and cash equivalents balance, December 31, 2016	$	35,000
Cash and cash equivalents balance, December 31, 2017		98,420
Cash received as interest		3,500
Cash paid for salaries		101,500
Bonds payable retired by issuing common stock (no gain or losson retirement)		145,000
Cash paid to retire long-term notes payable		175,000
Cash received from sale of equipment		85,750
Cash received in exchange for six-month note payable		35,000
Land purchased by issuing long-term note payable		84,100
Cash paid for store equipment		33,250
Cash dividends paid		21,000
Cash paid for other expenses		56,000
Cash received from customers		679,000
Cash paid for inventory		353,080