Condensed financial data of Sweet Acacia Industries follow.

Condensed financial data of Sweet Acacia Industries follow Sweet Acacia Industries Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation 2017 2016 $ 101,808 110,628 141,750 35,784 173,880 359,100 60,984 47,880 129,591 32,760 137,340 305,550 (63,000)(6 $859,950 $648,585 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings $ 128,520 20,790 138,600 277,200 294,840 $859,950 $84,798 26,460 183,960 220,500 132,867 $648,585 Sweet Acacia Industries Income Statement Data For the Year Ended December 31, 2017 Sales revenue $489,460 Less: $170,680 Operating expenses, excluding depreciation15,637 58,590 34,373 5,960 Cost of goods sold Depreciation expense Income tax expense Interest expense Loss on disposal of plant assets 9,450 294,690 $194,770 Net income Additional information: 1. New plant assets costing $126,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $72,450 and accumulated depreciation of $61,110 were sold for $1,890 cash. 3. Bonds payable matured and were paid off at face value for cash 4. A cash dividend of $32,797 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).) Sweet Acacia Industries Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Net Income 194770 Adjustments to reconcile net income to Cash Flows from Operating Activities Net Income 58590 Depreciation Expense 62748 Loss on Disposal of Plant Assets 12159 Increase in Accounts Receivable 3024 Increase in Inventory 43722 Increase in Prepaid Expenses 28161 Increase in Accounts Payable 222931 28161 Net Cash used by Operating Activities4 222931 Cash Flows from Investing Activities Sale of Plant Assets 1890 Purchase of Plant Assets -126000 Purchase of Investments 36540 Net Cash Provided by Investing Activities -160650 Cash Flows from Financing Activities Redemption of Bonds 45360 Payment of Cash Dividends 32797 Sale of Common Stock 56700 Net Increase in Cash 21457 Cash at Beginning of Period 60984 Cash at End of Period 101808 Net Increase in Cash 40824