Blake Weaver, Crane Enterprises' controller, is preparing the financial statements for 2016. He has completed the comparative balance sheets and income statement, which follow, and has gathered this additional information: On December 31, 2016, Crane sold a piece of equipment with an original cost of $25,060 for $30,190 cash. The equipment had a book value of $13,230. On February 1, 2016, Crane issued $105,960 of common stock to raise cash in anticipation of the purchase of a new building later in the year. .On February 2, 2016, Crane took out a ten-year $76,230 long-term loan to provide the remaining funds needed to purchase the building. .On May 15, 2016, Crane paid $156,830 for the new building .The company repaid $4,600 of the long-term debt before the end of the year. Crane Enterprises Income Statement For the Year Ended December 31, 2016 1,076,900 16,960 1,093,860 703,300 Sales revenue Gain on equipment sale Total revenue Cost of goods sold Operating expenses Depreciation expense 30,750 Interest expense Wages expenses Other expenses 7,600 175,640 16,460 230,450 160,110 64,000 96,110 Income before taxes Tax expense Net income Comparative Balance Sheets As of December 31, 2016 2016 2015 Cash Accounts receivable, net Inventory $ 128,900 44,600 288,350 270,300 125,200 95,240 542,450 410,140 303,900 160,300 90,750 60,000 213,150 100,300 S 755,600 $510,440 5151,290 $175,670 17,600 21,760 Total current assets Property, plant, & equipment Accumulated depreciation Net property, plant, & equipment Total assets Accounts payable Taxes payable Mortgage payable 71,630 Total liabilities Common stock Retained earnings 240,520 197,430 357,860 251,900 157,220 61,110 515,080 313,010 Total liabilities & stockholders' equity $755,600 $510,440 Total stockholders equity Using the indirect method, prepare Crane Enterprises' statement of cash flows for 2016 Show amounts that decrease cash flow with either a sign, eg. 15,000 or in paretheses, eg. 15,000 )