Condensed financial data of Cheng Inc. follow.

CHENG INC. Comparative Balance Sheets December 31
Assets		2017			2016
Cash		$118,000			$47,800
Accounts receivable		91,600			32,200
Inventory		113,000			102,900
Prepaid expenses		29,400			26,000
Investments		141,000			113,500
Equipment		265,700			241,600
Accumulated depreciation-equipment		(46,000	)		(51,400	)
Total		$712,700			$512,600
Liabilities and Stockholders Equity
Accounts payable		$111,300			$67,900
Accrued expenses payable		16,100			17,000
Bonds payable		110,700			149,500
Common stock		219,500			174,200
Retained earnings		255,100			104,000
Total		$712,700			$512,600

CHENG INC. Income Statement For the Year Ended December 31, 2017
Sales revenue				$391,900
Less:
Cost of goods sold		$135,900
Operating expenses, excluding depreciation		11,600
Depreciation expense		29,500
Income tax expense		26,300
Interest expense		4,400
Loss on disposal of plant assets		7,500		215,200
Net income				$176,700

Additional information:

1.		New equipment costing $79,400 were purchased for cash during the year.
2.		Old equipment having an original cost of $55,300 was sold for $12,900 cash.
3.		Bonds matured and were paid off at face value for cash.
4.		A cash dividend of $25,600 was declared and paid during the year.

Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Problem 13-9A Condensed financial data of Cheng Inc. follow CHENG INC. Balance Sheets December 31 2017 2016 ssets Cash Accounts receivable Inventory Prepaid expenses Investments Equipment Accumulated depreciation-equipment $118,000 91,600 113,000 29,400 141,000 265,700 $47,800 32,200 102,900 26,000 113,500 241,600 (46,000) 3512,600 (46,000) (51,400) Total $712,700 $512,600 iabilities and Stockholders Equit Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings $111,300 16,100 110,700 219,500 255,100 $67,900 17,000 149,500 174,200 104,000 $712,700 $512,600 Total CHENG INC. For the Year Ended December 31, 2017 Sales revenue Less $391,900 Cost of goods sold Operating expenses, excluding depreciation Depreciation expense $135,900 11,600 29,500