Business, 15.02.2021 20:00 aroman4511

A comparative balance sheet for Hartman Corporation is presented below:HARTMAN CORPORATION Comparative Balance Sheet 2017 2016Assets Cash $36,000 $31,000Accounts Receivable (net) 70,000 60,000Prepaid Insurance 25,000 17,000Land 18,000 40,000Equipment 70,000 60,000Accumulated Depreciation (20,000) (13,000)Total Assets $199,000 $195,000Liabilities and Stockholders' Equity Accounts Payable $11,000 $6,000Bonds Payable 27,000 19,000Common Stock 140,000 115,000Retained Earning 21,000 55,000Total Liabilities & Stockholders' Equity $ 199,000 $ 195,000Additional information:1. Net loss for 2017 is $20,000.2. Cash dividends of $14,000 were declared and paid in 2017.3. Land was sold for cash at a loss of $4,000. This was the only land transaction during the year.4. Equipment with a cost of $15,000 and accumulated depreciation of $10,000 was sold for $5,000 cash.5. $22,000 of bonds were retired during the year at carrying (book) value.6. Equipment was acquired for common stock. The fair market value of the stock at the time of the exchange was $25,000.Instructions:Prepare a statement of cash flows for the year ended 2017, using the indirect method.

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A comparative balance sheet for Hartman Corporation is presented below:HARTMAN CORPORATION Comparati...

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