Comparative Balance Sheets December 31 $116,800 $48,100 92,00032,300 111,800 102,000 29,200 139,100 113,000 265,400242,300 (47,900)(51,400) Prepaid expenses 25,200 Equipment Accumulated depreciation-equipment Accrued expenses payable Bonds payable Common stock Retained earnings $111,600 $68,000 16,30017,100 112,600149,000 220,100176,000 245,800101,400 $706,400 $511,500 Total CHENG INC 31, 2017 Sales re Cost of goods sold Operating expenses, excluding depreciation $135,500 11,100 Type here to search r 31, 2017 11,100 33,200 27,500 Interest expense Net income 2. Old 3. Bonds matured and were paid off at face value for cash 4. A cash dividend of $28,000 was declared and paid during the year t having an original cost of $57,100 was sold for $12,900 cash. with CHENG INC. 1724 let D Type here to search Additional information 1. New equipment costing $80,200 were purchased for cash during the year 2. Old equipment having an original cost of $57,100 was sold for $12,900 cash. 3. Bonds matured and were paid off at face value for cash. 4. A cash dividend of $28,000 was declared and paid during the year. Prepare a statement of cash flows using the indirect method. (Show amounts that decrea CHENG INC Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Net Income 172400 Adjustments to reconcile net income to Net Decrease in Cash Loss on Sale of Plant Assets Increase in unts Receivadle increase in Prepaid Ercpenises Type here to search