1: (15 Marks) Lock & Key Inc. began operations on January 1, 2016. Its post-closing trial balance at December 31, 2016 and 2017, is shown below along with some other information. Lock & Key Inc. Income Statement For Year Ended December 31, 2017 (000) malari Revenues: Sales.. Cost of goods sold. Gross Profit... 3,300 2,520 780 Expenses: Other expenses.. 660 Depreciation expense. 240 Total expenses. 900 120 Loss, Lock & Key lac Post-Closing Trial Balance (0006) December 31 Account 2017 2016 Cash. $2,160 $1,260 Receivables... 2,100 1,440 Merchandise inventory.. 2,040 2,280 Property, plant, and equipment 3,720 3,960 Accumulated depreciation. 1,440 1,380 Accounts payable.... 1,440 1,080 Accrued liabilities.... 240 360 Bonds payable. 1,680 1,800 Common shares. 3,084 2,040 Retained eamings.. 2,136 2,280 Other information regarding Lock & Key Inc. and its activities during 2017: 1. Assume all accounts have normal balances. 2. Cash dividends were declared and paid during the year. 3. Equipment was sold for cash which is equal to its book value. Required: Using the information provided, prepare a statement of cash flows (applying the indirect method) for the year ended December 31, 2017 Page 2 of 9