1) The comparative balance sheets for Sunland Company as of December 31 are presented below.

Sunland Company Comparative Balance Sheets December 31
Assets		2017			2016
Cash		$ 80,104			$ 53,010
Accounts receivable		58,900			68,324
Inventory		178,408			167,276
Prepaid expenses		18,000			24,738
Land		170,810			153,140
Buildings		235,600			235,600
Accumulated depreciationbuildings		(70,680	)		(47,120	)
Equipment		265,050			182,590
Accumulated depreciationequipment		(53,010	)		(41,230	)
Total		$883,182			$796,328
Liabilities and Stockholders Equity
Accounts payable		$ 52,692			$ 42,408
Bonds payable		353,400			353,400
Common stock, $1 par		235,600			188,480
Retained earnings		241,490			212,040
Total		$883,182			$796,328

Additional information:

1.		Operating expenses include depreciation expense of $49,476.
2.		Land was sold for cash at book value.
3.		Cash dividends of $14,136 were paid.
4.		Net income for 2017 was $43,586.
5.		Equipment was purchased for $108,376 cash. In addition, equipment costing $25,916 with a book value of $11,780 was sold for $9,424 cash.
6.		47,120 shares of $1 par value common stock were issued in exchange for land with a fair value of $47,120.

Prepare a statement of cash flows for the year ended December 31, 2017, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

2) Condensed financial data of Ivanhoe Company follow.

Ivanhoe Company Comparative Balance Sheets December 31
Assets		2017			2016
Cash		$ 92,920			$ 55,660
Accounts receivable		100,970			43,700
Inventory		129,375			118,278
Prepaid expenses		32,660			29,900
Long-term investments		158,700			125,350
Plant assets		327,750			278,875
Accumulated depreciation		(57,500	)		(59,800	)
Total		$784,875			$591,963
Liabilities and Stockholders Equity
Accounts payable		$ 117,300			$ 77,395
Accrued expenses payable		18,975			24,150
Bonds payable		126,500			167,900
Common stock		253,000			201,250
Retained earnings		269,100			121,268
Total		$784,875			$591,963

Ivanhoe Company Income Statement Data For the Year Ended December 31, 2017
Sales revenue				$446,729
Less:
Cost of goods sold		$155,779
Operating expenses, excluding depreciation		14,272
Depreciation expense		53,475
Income tax expense		31,372
Interest expense		5,440
Loss on disposal of plant assets		8,625		268,963
Net income				$ 177,766

Additional information:

1.		New plant assets costing $115,000 were purchased for cash during the year.
2.		Old plant assets having an original cost of $66,125 and accumulated depreciation of $55,775 were sold for $1,725 cash.
3.		Bonds payable matured and were paid off at face value for cash.
4.		A cash dividend of $29,934 was declared and paid during the year.

Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)