Condensed financial data of Cheng Inc. follow.

ProDiem13-9A Condensed financial data of Cheng Inc. follow. Comparative Balance Sheets December 31 2016 Assets 2017 $8 92 800 33 000 ACCounts receivable 117,500 28,400 102,850 26,000 Inventory Prepaid expenses Investments 143,000 (52,000) $514,750 Accumulated depreciation-equipment (50,000) Total $682,500 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable $67,300 $112,000 16,500 11 Common stock 220,000 224.000 _$682,500 175,000 105,450 Retained earnings $514,750 Total CHENG INC Income Statement For the Year Ended December 31, 2017 $392,780 Sales revenue Cost of goods sold Operating expenses, excluding depreciation Depreciation expense $135,460 12,410 46,500 nse Interest expense 4,730 7,500 Loss on disposal of plant assets 233.880 $158,900 Net income Additional information: 1. New equipment costing $85,000 were purchased for cash during the year. 2. Old equipment having an original cost 3. Bonds matured and were paid off at face value for cash cash dividend of $40,350 was declared and paid during the year. $57,500 was sold for $1.500 cash 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).) CHEGach Flows Statem Adjustments to reconcile net income to