Maurice wants the male lead in the school play. The problem is that rehearsal is held for two hours every weekday afternoon for the next three months. If he gets the lead, he must quit his after school job at the mall. If

he quits now, the manager probably would not hire him for full-time summer work. Maurice desperately needs

the income to help his family pay medical bills.

Since he is senior, this is Maurice's last chance to be in a high school production. The best actors in the spring are

sometimes chosen for Summer Theater. This often leads to a career in drama, which Maurice has always wanted.

Case Review

1. What is the trade-off if Maurice decides to keep his job?

2. What is the opportunity cost if he decides in favor of the play?

3. What other alternatives might Maurice have?

4. How would you resolve Maurice's goal conflict if this were your decision?

Exercise 12-7 shown below are comparative balance sheets for flint corporation. flint corporation comparative balance sheets december 31 assets 2017 2016 cash $ 201,348 $ 65,142 accounts receivable 260,568 225,036 inventory 494,487 559,629 land 236,880 296,100 equipment 769,860 592,200 accumulated depreciation—equipment (195,426 ) (94,752 ) total $1,767,717 $1,643,355 liabilities and stockholders’ equity accounts payable $ 115,479 $ 127,323 bonds payable 444,150 592,200 common stock ($1 par) 639,576 515,214 retained earnings 568,512 408,618 total $1,767,717 $1,643,355 additional information: 1. net income for 2017 was $275,373. 2. depreciation expense was $100,674. 3. cash dividends of $115,479 were declared and paid. 4. bonds payable amounting to $148,050 were redeemed for cash $148,050. 5. common stock was issued for $124,362 cash. 6. no equipment was sold during 2017. 7. land was sold for its book value. prepare a statement of cash flows for 2017 using the indirect method.