ACC 560 MART Extraordinary Success/acc560mart.com ACC 560 MART Extraordinary Success/acc560mart.com | Page 69

Land 20,000 26,000 Buildings 70,000 70,000 Accumulated depreciation—buildings (15,000) (10,000) ________ _________ Total $110,500 $120,100 Accounts payable $12,370 $31,100 Common stock 75,000 69,000 Retained earnings 23,130 20,000 _________ _________ Total $110,500 $120,100 Instructions a. Prepare a statement of cash flows for 2017 using the indirect method.