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A comparative balance sheet for Rocker Company appears below: ROCKER COMPANY Comparative Balance Sheet Dec. 31, 2017 Dec.

A comparative balance sheet for Rocker Company appears below:


ROCKER COMPANY

Comparative Balance Sheet

Dec. 31, 2017 Dec. 31, 2016 Assets


Cash$34,000$11,000

Accounts receivable 18,00013,000

Inventory 25,00017,000

Prepaid expenses 6,0009,000

Long-term investments 17,000

Equipment 60,00033,000

Accumulated depreciation—equipment(20,000)(15,000)   

 Total assets$123,000$85,000

Liabilities and Stockholder's Equity Accounts payable$17,000$7,000

Bonds payable 36,00045,000

Common stock 40,00023,000

Retained earnings 30,00010,000  

  Total liabilities and stockholders' equity$123,000$85,000



Additional information:1.Net income for the year ending December 31, 2017 was $35,000.

2.Cash dividends of $15,000 were declared and paid during the year.

3.Long-term investments that had a cost of $17,000 were sold for $14,000.

4.Sales for 2017 were $120,000.


how to complete a statement of cash flows for the year ended December 31, 2017, using the indirect method


ROCKER COMPANY

Statement of Cash Flows

For the Year Ended December 31, 2017

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