Question

Using the data for Gronk, Inc. provided below prepare a Statement of Cash Flows for fiscal year 2016 in proper format.

Gronk, Inc
List of Items for Statement of Cash Flows Statement
December 31, 2016
(thousands of dollars)
Cash and Cash Equivalents, January 1, 2016	66,200
Cash and Cash Equivalents, December 31, 2016	-
increase in accrued expenses	2,300
decrease in prepaid expenses	960
increase in inventories	21,350
decrease in income taxes payable	3,500
increase in accounts payable	6,840
gain on sale of investment	11,000
increase in accounts receivable	20,000
gain on sale of land	20,500
dividend payments	33,000
depreciation expense	39,990
payments for purchase of investments	40,500
payments for purchase of equipment	56,200
payments for ppuchase of land	62,500
proceeds from sale of land	85,000
proceeds from the issuance of stock	81,000
proceeds from sale of investments	100,500
net income	120,000
payments made to retire bonds payable	150,000
proceeds from the issueance of a mortgage	175,000
payments for purchase of building	187,500

Answer 1