Condensed financial data of Blossom Company follow Blossom Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 2017 2016 $116,160 91,200 246,840 62,400 261,600 582,000 $193,920 210,720 270,000 68,160 331,200 684,000 (120,000 124,800) $1,638,000 $1,235,400 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $ 161,520 50,400 350,400 420,000 253,080 $1,638,000 $1,235,400 $244,800 39,600 264,000 528,000 561,600 Blossom Company Income Statement Data For the Year Ended December 31, 2017 Sales revenue $932,304 Less Cost of goods sold Operating expenses, excluding depreciation Depreciation expense Income tax expense Interest expense Loss on disposal of plant assets $325,104 29,784 111,600 65,472 11,352 18,000 561,312 $370,992 Net income Additional information: 1. New plant assets costing $240,000 were purchased for cash during the year 2. Old plant assets having an original cost of $138,000 and accumulated depreciation of $116,400 were sold for $3,600 cash 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $62,472 was declared and paid during the year Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with elther a -sign e.g. -15,000 or in parenthesis e.g. (15,000).)