Accounting, Analysis, and Principles (Part Level Submission) The income statement for the year ended December 31, 2017, for Windsor Manufacturing Company contains the following condensed information WINDSOR CO. INCOME STATEMENT $6,569,000 Revenues Operating expenses (excluding depreciation) $4,906,000 Depreciation expense 856,000 Income before income tax Income tax expense Net income 5,762,000 807,000 363,150 $ 443,850 Included in operating expenses is a $17,000 loss resulting from the sale of machinery for $256,000 cash. The company purchased machinery at a cost of $726,000. Windsor reports the following balances on its comparative balance sheets at December 31. WINDSOR CO. COMPARATIVE BALANCE SHEETS (PARTIAL) 2017 2016 Cash $642,850 $116,000 Accounts receivable 771,000 596,000 Inventory 827,000 857,000 Accounts payable 518,000 497,000 Income tax expense of $363,150 represents the amount paid in 2017. Dividends declared and paid in 2017 totaled $196,000. (a) Prepare the 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).) WINDSOR COMPANY Statement of Cash Flows For the Year Ended December 31, 2017 A Adjustments to reconcile net income to