Comparative balance sheets for International Company are presented below. INTERNATIONAL COMPANY Comparative Balance Sheets December 31 Assets 2017 2016 y. Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment Total $72,890 85,890 179,280 75,000 250,040 (65,050 ) $598,050 $21,050 75,150 189,640 101,800 199,750 (42,690 ) $544,700 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total $34,310 149,840 213,210 200,690 $598,050 $46,040 200,460 163,880 134,320 $544,700 Additional information: 1. Net income for 2017 was $135,400. 2. Cash dividends of $69,030 were declared and paid. 3. Bonds payable amounting to $50,620 were redeemed for cash $49,330. 4. Common stock was issued for $49,330 cash. 5. Depreciation expense was $22,360. 6. Sales revenue for the year was $977,850. 7. Land was sold at cost, and equipment was purchased for cash. Prepare a worksheet for a statement of cash flows for 2017 using the indirect method. Enter the reconciling items directly on the worksheet. INTERNATIONAL COMPANY Worksheet Statement of Cash Flows Reconciling Items Debit Credit Balance Sheet Accounts Debits Balance 12/31/16 Balance 12/31/17 Cash Accounts receivable Inventory Land Equipment Total Credits Accumulated depreciation equipment Accounts payable Bonds payable Common stock Retained earnings Total Statement of Cash Flow Effects Operating activities V > V y Investing activities V V Financing activities > > > Totals Totals