BENETEAU CORPORATION Comparative Balance Sheet

				2017			2016
		Assets
Cash				$37,000			$31,000
Accounts receivable (net)				80,000			60,000
Prepaid insurance				22,000			17,000
Land				18,000			40,000
Equipment				70,000			60,000
Accumulated depreciation				(20,000	)		(13,000	)
Total assets				$207,000			$195,000
Liabilities and Stockholder's Equity
Accounts payable				$12,000			$6,000
Bonds payable				27,000			19,000
Common stock				140,000			115,000
Retained earnings				28,000			55,000
Total liabilities and stockholder's equity				$207,000			$195,000

Additional information:
1.		Net loss for 2017 is $12,000. Net sales for 2017 are $250,000.
2.		Cash dividends of $15,000 were declared and paid in 2017.
3.		Land was sold for cash at a loss of $2,000. This was the only land transaction during the year.
4.		Equipment with a cost of $15,000 and accumulated depreciation of $10,000 was sold for $5,000 cash.
5.		$12,000 of bonds were retired during the year at carrying (book) value.
6.		Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $25,000 Prepare a statement of cash flows for the year ended December 31, 2017, using the indirect method.