31 Statement of cash flows preparation. Selected financial statement information and additional data for Stanislaus Co. is presented below. Prepare a statement of cash flows for the year ending December 31, 2017. December 31 2016 2017 Cash $42,000 $60,000 Accounts receivable (net) 84,000 144,200 Inventory 168,000 206,600 Land 58,800 26,000 Equipment 504,000 789,600 TOTAL $856,800 $1,226,400 Accumulated depreciation $84,000 $110,600 Accounts payable 50,400 91,000 Notes payable - short-term 67,200 29,400 Notes payable - long-term 168,000 302,400 Common stock 420,000 487,200 Retained earnings 67,200 205,800 TOTAL $856,800 $1,226,400 Additional data for 2017: 1. Net income was $230,200. 2. Depreciation was $31,600. 3. Land was sold at its original cost. 4. Dividends of $91,600 were paid. 5. Equipment was purchased for $84,000 cash. 6. A long-term note for $201,600 was used to pay for an equipment purchase. 7. Common stock was issued to pay a $67,200 long-term note payable.