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Business, 24.04.2020 23:41 texas101st78

The comparative balance sheets of Sweet Inc. at the beginning and the end of the year 2017 are as follows. SWEET INC. BALANCE SHEETS Dec. 31, 2017 Jan. 1, 2017 Inc./Dec. Assets Cash $ 46,130 $ 14,130 $32,000 Inc. Accounts receivable 94,430 90,300 4,130 Inc. Equipment 42,430 24,300 18,130 Inc. Less: Accumulated Depreciation-Equipment 20,430 11,000 9,430 Inc. Total $162,560 $117,730 Liabilities and Stockholders’ Equity Accounts payable $ 23,430 $ 17,300 6,130 Inc. Common stock 101,130 82,300 18,830 Inc. Retained earnings 38,000 18,130 19,870 Inc. Total $162,560 $117,730 Net income of $47,430 was reported, and dividends of $27,560 were paid in 2017. New equipment was purchased and none was sold. Prepare a statement of cash flows for the year 2017.

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