2. Satement of Cash Flows (40 points) The Balance Sheet and Income Statement for Husker Du, Inc. on 12/31/17 are shown belo w: 2016 BALANCE SHEET S.20,000 72000 10,000000 S 90,000 ASSETS Cash ...148.0 10,000 250,000...208,000 8,000)...2000 42.000 Acsounts roceivable s allow Inventories 2.000), Total current assets.. 325.0007 580,000 0.000125,000 5.200,00053.000) 633.010,000) Plant and equipment 3.000) Patents Total noncurrent assets 930,000 TOTAL ASSETS LIABILITIES Current liabilities S 60,000 9.000000 (10.000) 40,000 Accounts payable tases payable24,00189,000 taxes payable Interest payable s and wages. 460,000 ..140,000410,000 Total current liabilities.. 100.000 . Long term bonds (due in 2015) TOTAL LIABILITIES Shareholders Equity Common stock ($5 par) Paid in capital in excess of par.... Retained earnings 50,000 690,000 233,00210,000 596000 170.0040.000 63,000 81,000 250,000 TOTAL SHAREHOLDERS EQUITY TOTAL LIAB.&SHARE. EQUITY NCOME STATEMENT for 2017 $1,000,000 2000 Sales revenue Gain on debt retirement Equity Investment Income Total revenue and gain... Cost of sales Salary and wages Depreciation Amortization ....190,000 .20,000 3,000 4,000 16,000 Loss on sale.of plant and equipment Interest expense. Miscellaneous 8,000 (801,000) Income before taxes ..36,000 (100,000) Income taxes Net income $136,000 Iditional information: Ad buring the year. Husker Du purchased some land for $85,000 cash and 1. During the year some land for $85,000 cash and issued some stock for 2. Du 3. Husker Du sold plant and ional land when the market value of the stock was $20/share ring the year, Husker Du retired bonds with a face value of $50,000. equipment costing $53,000 for $19,000 cash. Required: Please prepare a cash flow statement for 2017. Use the Indirect Method for reporting Cash Flows from Operating Activities