*E17-14 Comparative balance sheets for International Company are presented below. INTERNATIONAL COMPANY Comparative Balance Sheets December 31 Assets 2017 Cash 2016 $ 73,000 Accounts receivable $ 22,000 85,000 Inventory 76,000 180,000 Land 189,000 75,000 Equipment 100,000 250,000 Accumulated depreciation equipment 200,000 (66,000) (42,000) Total $597,000 $545,000 Liabilities and Stockholders' Equity Accounts payable $ 34,000 $ 47,000 Bonds payable 150,000 200,000 Common stock ($1 par) 214,000 164,000 Retained earnings 199,000 134,000 Total $597,000 $545,000 Additional information: 1. Net income for 2017 was $135,000. 2. Cash dividends of $70,000 were declared and paid. 3. Bonds payable amounting to $50,000 were redeemed for cash $50,000. 4. Common stock was issued for $50,000 cash. 5. Depreciation expense was $24,000. 6. Sales revenue for the year was $978,000. Land was sold at cost, and equipment was purchased for cash. rastructions Prepare a worksheet for a statement of cash flows for 2017 using the indirect method. Enter The reconciling items directly on the worksheet, using letters to cross-reference each entry. Notes Comments E E