E17-7B Harman Corporation's comparative balance sheets are presented below. HARMAN CORPORATION Comparative Balance Sheets December 31 2017 2016 27,200 17,700 24,200 22,300 Cash Accounts receivable 20,000 16.000 Investments 60,000 Equipment 70,000 Accumulated depreciation 14,000) 00.000) Total $117,400 S116,000 19,600 11,100 Accounts payable Bonds payable 10,000 30,000 55,000 Common stock. 45.000 Retained earnings 32,800 29,900 $117,400 S116,000 Total Additional information: 1. Net income was $34,300. Dividends declared and paid were $31,400. 2. Equipment which cost $10,000 and had accumulated depreciation of $1.200 was sold for $5,300. 3. All other changes in noncument account balances had a direct effect on cash flows, except the change in accumulated depreciation. Instructions (a) Prepare a statement of cash flows for 2017 using the indirect method. b) Compute free cash flow. Prepare stakemaent onsh flows and compute free cash (LO 2, 3)