Use the Following Financial Statements and Additional Information to (1)

question 217

Essay

Use the following financial statements and additional information to (1) prepare a statement of cash flows for the year ended December 31, 2017 using the indirect method, and (2) compute the company's cash flow on total assets ratio for 2017. Additional Information:
a. A $20,000 note payable is retired at its carrying value in exchange for cash.
b. The only changes affecting retained earnings are net income and cash dividends paid.
c. New equipment is acquired for $120,000 cash.
d. Received cash for the sale of equipment that had cost $85,000, yielding a gain of $4,700.
e. Prepaid expenses relate to Other Expenses on the income statement.
f. All purchases and sales of merchandise inventory are on credit.

---

Definitions:

Protective Factor

Elements in an individual's life that decrease the likelihood of negative outcomes or that mitigate the impact of risk factors.

Maladaptive

Maladaptive describes behaviors or traits that are counterproductive to the individual's well-being or ability to meet their needs in a constructive manner.

Social Anxiety Disorder

A mental health condition characterized by an intense, persistent fear of being watched and judged by others.

Loneliness

A complex and usually unpleasant emotional response to isolation or lack of companionship.