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The comparative balance sheets of Grouper Inc. at the beginning and the end of the year 2017 are as follows

Author:
June 7th, 2024

The comparative balance sheets of Grouper Inc. at the beginning and the end of the year 2017 are as follows.GROUPER INC.BALANCE SHEETSDec. 31, 2017Jan. 1, 2017Inc./Dec.AssetsCash$ 46,760$ 14,760$32,000 Inc.Accounts receivable94,36089,6004,760 Inc.Equipment42,36023,60018,760 Inc.Less: Accumulated Depreciation-Equipment20,36011,0009,360 Inc. Total$163,120$116,960Liabilities and Stockholders’ EquityAccounts payable$ 23,360$ 16,6006,760 Inc.Common stock101,76081,60020,160 Inc.Retained earnings38,00018,76019,240 Inc. Total$163,120$116,960Net income of $47,360 was reported, and dividends of $28,120 were paid in 2017. New equipment was purchased and none was sold.Prepare a statement of cash flows for the year 2017.(Show amounts that decrease cash flow with either a – sign e.g. -15,000 or in parenthesis e.g. (15,000).)GROUPER INC.Statement of Cash Flows December 31, 2017For the Year Ended December 31, 2017For the Quarter Ended December 31, 2017 Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash Depreciation Expense Increase in Accounts Receivable Increase in Accounts Payable Payment of Cash Dividends Issuance of Common Stock Purchase of Equipment Net Income $Adjustments to reconcile net income to Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash Increase in Accounts Payable Purchase of Equipment Issuance of Common Stock Increase in Accounts Receivable Payment of Cash Dividends Net Income Depreciation Expense $ Payment of Cash Dividends Issuance of Common Stock Increase in Accounts Receivable Purchase of Equipment Increase in Accounts Payable Net Income Depreciation Expense Increase in Accounts Receivable Increase in Accounts Payable Purchase of Equipment Issuance of Common Stock Payment of Cash Dividends Net Income Depreciation Expense Cash at Beginning of Year Cash at End of Year Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash Purchase of Equipment Depreciation Expense Increase in Accounts Receivable Net Income Increase in Accounts Payable Issuance of Common Stock Payment of Cash Dividends Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash Increase in Accounts Receivable Depreciation Expense Increase in Accounts Payable Payment of Cash Dividends Purchase of Equipment Net Income Issuance of Common Stock Purchase of Equipment Net Income Issuance of Common Stock Payment of Cash Dividends Depreciation Expense Increase in Accounts Receivable Increase in Accounts Payable Cash at Beginning of Year Cash at End of Year Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash$

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