Current Attempt in Progress Ivanhoe Inc, a greeting card company, had the following statements prepared as of December 31 IVANHOE INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 12/31/17 12/31/16 Cash $6,100 $7,000 Accounts receivable 62,200 51,500 Short-term debt investments (available-for-sale) 34,900 40,300 17.900 60,500 Inventory Prepaid rent 5,000 153,200 (35.000) 3.900 131,200 Equipment Accumulated depreciation-equipment (24.700) Copyrights 46,200 $312.900 49.800 $297.100 Total assets Accounts payable $46,000 4,000 $40,000 6,000 Income taxes payable Salaries and wages payable 7.900 4,000 Short-term loans payable Long-term loans payable Common stock $10 par 8.100 59.800 100.000 10.100 69.200 100.000 search Long-term loans payable Common stock, $10 par Contributed capital, common stock 59,800 100,000 30,000 57,100 $312,900 69,200 100,000 30,000 37,800 $297,100 Retained earnings Total liabilities & stockholders' equity IVANHOE INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2017 $336,150 Sales revenue Cost of goods sold 174.100 162,050 Gross profit Operating expenses 120.800 Operating income 41.250 Interest expense $11,400 1,900 Gain on sale of equipment 9.500 31.750 Income before tax Income tax expense 6,350 $25.400 Net income Additional information: 1. Dividends in the amount of $6.100 were declared and paid during 2017, 2. Depreciation expense and amortization expense are included in operating expenses. 3. No unrealized gains or losses have occurred on the investments during the year. HET OO W Therestexpense 115400 Gain on sale of equipment 1,900 9,500 Income before tax 31,750 Income tax expense 6,350 Net income $25,400 Additional information: 1. Dividends in the amount of $6,100 were declared and paid during 2017. 2. Depreciation expense and amortization expense are included in operating expenses. 3. No unrealized gains or losses have occurred on the investments during the year. 4. Equipment that had a cost of $20,200 and was 70% depreciated was sold during 2017 Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow IVANHOE INC