Presented below is a condensed version of the comparative balance sheets for Pronghorn Corporation for the last two years at December 31. 2017 2016Cash $176,700 $45,000 Accounts receivable 118,900 78,400 Investments 69,900 98,300 Equipment 349,900 176,100 Accumulated depreciation—equipment (95,300) (65,300)Current liabilities 135,500 94,300 Common stock 138,100 63,700 Retained earnings 345,300 173,300 Additional information:Investments were sold at a gain of $9,300; no investments were purchased; no equipment was sold; cash dividends paid were $42,500; and net income was $214,500. %24>>>>>>> Prepare a statement of cash flows for 2017 for Pronghorn Corporation. (Show amounts that decrease cash flow with either a - signe.g. -15,000 or in parenthesis e.g. (15,000).)Pronghorn CORPORATIONStatement of Cash FlowsAdjustments to reconcile net income to%24%24>>

Statement of cash flow helps in determining how cash was utilized and whether company is able to…

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Prepare a statement of cash flows for 2017 for Pronghorn Corporation. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 7E

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	2017	2016
Cash	$176,700	$45,000
Accounts receivable	118,900	78,400
Investments	69,900	98,300
Equipment	349,900	176,100
Accumulated depreciation—equipment	(95,300)	(65,300)
Current liabilities	135,500	94,300
Common stock	138,100	63,700
Retained earnings	345,300	173,300

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