46. Statement of Cash Flows (Indirect Method) Dair Company's income statement and comparative balance sheets follow DAIR COMPANY Income Statement For Year Ended December 31, 2017 $700,000 Sales.. Cost of goods sold.. Wages and other operating expenses Depreciation expense. . Amortization expense.. Interest expense.... Income tax expense... Loss on bond retirement .. Net income.... $440,000 95,000 22,000 7,000 10,000 36,000 615,000 5,000 $ 85,000 Module 11 Cash Flow DAIR COMPANY Balance Sheet Dec. 31, 2017 Dec. 31, 2016 Assets Cash. $ 27,000 53,000 $ 18,000 48,000 109,000 Accounts receivable . Inventory.... Prepaid expenses. 103,000 12,000 360,000 (87,000) 43,000 10,000 PPE.. 336,000 (84,000) 50,000 $487,000 Accumulated depreciation Intangible assets Total assets. $511,000 Liabilities and Stockholders' Equity Accounts payable. Interest payable Income tax payable $26,000 $32,000 4,000 7,000 8,000 120,000 228,000 6,000 60,000 Bonds payable Common stock. Retained earnings 252,000 98,000 157,000 $487,000 $511,000 Total liabilities and equity During 2017, the company sold for $1 7,000 cash old equipment that had cost $36,000 and had $19,000 accumulated depreciation. Also in 2017, new equipment worth $60,000 was acquired in exchange for $60,000 of bonds payable, and bonds payable of $120,000 were retired for cash at a loss. A $26,000 cash dividend was declared and paid in 2017. Any stock issuances were for cash. Required Compute the change in cash that occurred in 2017 b. Prepare a 2017 statement of cash flows using the indirect method. Prepare separate schedules showing (1) cash paid for interest and for income taxes and (2) noncash investing and financing transactions. P1-47. Statement of Cash Flows (Indirect Method) a. C. LO2 are the income statement and balance sheet for Whole Foods Market Inc., for the year ended September 25, 2016, and a forecasted income statement and balance sheet for 201 7. Whole Inc. (V Following