Reference no: EM132522565

The following information is provided for the Waif Corporation.

Balance Sheets                          December 31, 20XX                          December 31, 20XW Assets

Cash                                             $54,500                                         $17,400

Accounts receivable                              64,800                                        52,200

Inventory                                         142,200                                        149,300

Land                                                   60,000                                     87,000

Plant and equipment                            206,000                                      158,000

Less: Accumulated depreciation               55,000                                    33,000

Net plant and equipment                         151,000                                   125,000

Total assets                                           $472,500                               $430,900

Liabilities and Equity Accounts payable          $27,000                                  37,000

Bonds payable                                             118,000                                158,000

Common stock                                            170,000                                     130,000

Retained earnings                                       157,500                                       105,900

Total liabilities and shareholders' equity             $472,500                                 $430,900

During 20XX, the following occurred:

1. Net income was $91,000.
2. Bonds were retired by issuing new common stock.
3. No equipment was sold.
4. Cash dividends were paid.

Question 1: Show a statement of cash flows for the Waif Corporation. (Amounts to be deducted should be indicated with a minus sign. Omit $ sign in your response.)