atement of Cash Flows 2017 2016 14,600 10,000 50,000 31,800 $ 11,100 30,000 45,000 29,900 $116,000 Accounts payable Bonds payable Common stock Retained earnings $106,400 Total Additional information: 1. Net income was $18,300. Dividends declared and paid were $16,400. 2. Equipment which cost $10,000 and had accumulated depreciation of $1,200 was sold for $3,300. 3. No noncash investing and financing activities occurred during 2017. Instructions a) Prepare a statemet of cash ovs for 2017 using the indirect method. (b) Compute free cash flow. a provided *E17-10 Macgregor Company comnleted its firnt Dacamher 31, 2017