Condensed financial data of Cheng Inc. follow. CHENG INC. Comparative Balance Sheets December 31 Assets 2017 Cash Accounts receivable Inventory Prepaid expenses Investments Equipment Accumulated depreciation equipment Total $116,300 92,700 111,200 29,000 140,900 265,000 (46,800) $708,300 2016 $48,400 33,400 102,100 25,500 113,300 241,100 (52,000) $511,800 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $111,100 16,500 119,300 219,900 241,500 $708,300 $67,800 17,500 149,300 174,600 102,600 $511,800 $391,300 CHENG INC. Income Statement For the Year Ended December 31, 2017 Sales revenue Less: Cost of goods sold $135,200 Operating expenses, excluding depreciation 11,500 Depreciation expense 31,300 Income tax expense 27,800 Interest expense 4,600 Loss on disposal of plant assets 7,500 Net Income 217.900 $173,400 Additional information: 1. New equipment costing $80,800 were purchased for cash during the year. 2. Old equipment having an original cost of $56,900 was sold for $12,900 cash 3. Bonds matured and were paid off at face value for cash 4. A cash dividend of $34,500 was declared and paid during the year Prepare a statement of cash flows using the Indirect method. (Show amounts Fnat decrease cash flow with theralne.. +15,000 or in parenthesis s.p. (18,000).) CHENG INC. Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from operating Activities V Net Income V 173,400 Adjustments to reconche net income to Net Cash Provided by Operating Acties > > > >