Answer:
Please see below for solution:
Explanation:
Mitch Company      
Statement of Cash Flow      
As of December 31, 2017      
      
CASH FLOWS FROM OPERATING ACTIVITIES    	$
Net Income      42,750
<em>Adjustments to reconcile net income to      
</em>
<em>net cash provided by operating activities:      
</em>
Depreciation on Fixed Assets      15,450
<em>(Increase) Decrease in Current Assets:</em>      
Accounts Receivables      6,200  
Merchandise Inventory      (5,150)
<em>Increase (Decrease) in Current Assets:</em>      
Accounts Payable      (10,300)
Wages payable      (600)
NET CASH PROVIDED BY OPERATING ACTIVITIES  	48,350  
      
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchase of Property and equipment      (61,350)      	
NET CASH USED IN INVESTING ACTIVITIES    	(61,350)
      
CASH FLOWS FROM FINANCING ACTIVITIES      
Payment of Note Payable, Long Term      (12,200)
Payment of Cash Dividends      (10,450)
Issuance of Common Stock and additional paid-in capital  36,400  
NET CASH PROVIDED (USED) IN FINANCING ACTIVITIES    13,750  
 NET INCREASE (DECREASE) IN CASH    	750  
<em>Cash Balance, December 31 2016      66,200  </em>
<em>Cash Balance, December 31 2017      66,950  </em>