Reference no: EM131663322

Question - The following schedule of information relates to Minerva Systems, Inc. for the year ended November 30, 2017:

Depreciation expense $ 87,960

Net income 502,800

Cash at start of year 44,040

Nonoperating cash receipts:

From sale of plant assets (recorded a gain of $2,400) 39,000

From sale of marketable securities 93,600

Nonoperating cash payments:

For repurchase of preferred stock 114,000

For purchase of bonds as investment 319,320

To stockholders as dividends 141,240

Change in working capital accounts:

Accounts receivable increase 97,080

Inventory increase 6,480

Accounts payable decrease 44,400

Accrued liabilities increase 7,920

Prepare, in good form, a 2017 statement of cash flows for Minerva Systems, Inc. using the indirect method.